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Mitchell Tsai
“Decline of a Santa Monica house (from $1,380,000 to $1,120,000 - 14% drop in 2008)”
December 22, 2008
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An aunt's house in Santa Monica, California. What you can't see in this chart is the big 1990-1997 drop, where the house dropped from $500,000 to $250,000. The house was originally purchased ~$300,000 (and still is assessed for property taxes at ~$500,000).
- Mitchell Tsai
See a Los Angeles house which was harder hit - 27% drop in 2008 (chart) http://friendfeed.com/e...
- Mitchell Tsai
Adjusting for inflation (CPI-U), this house was purchased for $558,000 (in Nov 2008 dollars), so it's still 101% too high (possible bubble).
- Mitchell Tsai