Million Dollar Home Sales Jump in US as Wealthy Return

“When the real estate market was booming, people sat in Starbucks and talked about how much they paid for a house,” said Craig Moe, who in June bought a $1.2 million property discounted 25 percent from its sale six years ago. “Now, they talk about how little they paid and what a bargain they got.”

READ THE WHOLE BLOOMBERG ARTICLE HERE: https://www.bloomberg.com/news/2013-08-08/million-dollar-home-sales-jump-in-u-s-as-wealthy-return.html

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We have felt both sides of this. Our first home is now worth roughly 40% of what we paid for it about 11 years ago. We're stuck with it until the remaining mortgage goes down to its value (we presently rent this house to a great tenant - we're among the lucky ones.)

On the other hand, we bought our current home at what turned out to be the very bottom of the market, it has already gained about 5% in value in the one year since we bought it.

Joe are these homes in Vegas? Or elsewhere?

If you bought them here in Vegas at the "bottom" I would think you would see much higher appreciation than 5%. in 2012 alone most neighborhoods appreciated between 20% and 30%. Those are very high numbers that we have not heard since the bubble.

These homes are in Suburban Detroit