Festival Condos For Sale.Is it true that American house prices have gone crazy? Recently, I have seen countless news hyping the topic of overseas house prices, such as house prices in the United States, Britain, South Korea and other countries have risen sharply after the epidemic, among which American house prices are the most prominent.Please Visit: Festival Condos For Sale to Get Your VVIP Registration Today!
My view is that the madness of this round of house price increases in the United States over the past year is indeed unprecedented, but if we lengthen the cycle, or do some parallel comparisons and take into account exchange rate movements, you will find that American house prices are not as crazy as we thought.
Today, let’s use a full range of data to take a closer look at how high American house prices are and how much they have risen.
As China’s real estate marketization was basically completed in 2000, there was almost no commercial housing in many cities before, and most people have memories of house prices or awareness of investment around 2000. Therefore, in order to facilitate comparison and understanding, we also began to examine American house prices in 2000. The data refer to the S&P/ Case-Shiller house price index, the most authoritative reference index of house prices in the United States. The cities studied include: national average, New York, Los Angeles, Chicago, Dallas, Seattle, San Francisco and Washington, D.C.
The trend of house prices across the United States from 2000 to 2021 the city circle corresponding to each line has a note in the top half of the picture, in which black is the price of the whole United States.
After visualization, if you look at the detailed figures, house prices in the United States have risen by 144% since 2000 and 68% since 2010.
Of all the cities compared above, Los Angeles is the strongest city in the United States since 2000, with a cumulative increase of 230%, which is equivalent to 1 million houses in 2000 and now costs 3.3 million, which is already a large margin for Americans. but in China, it has outperformed the market by a large margin. Seattle and San Francisco have also performed well since 2000, with more than 200%. These two cities are also the cities with the largest cumulative increase in house prices since 2010. the pleasant climate on the west coast, relatively scarce land and developed high-tech industries have made house prices in cities such as Los Angeles, San Francisco and Seattle far stronger than in the United States.
