Predictions

For nothing more than a little fun, I thought it would be interesting to extrapolate some of the numbers I played with last week to predict what prices would be in ten years IF the rate of inflation and appreciation remained the same as it’s been over the last decade. So, with some very basic math, I averaged out the increase for single family homes, lofts/condos/TICs and Multi Unit buildings in five neighborhoods and applied it to a new neighborhood, Glen Park 2017. Not only do I doubt that the rate of appreciation will remain the same, but I hope with all my might that it doesn’t because not a damn soul will be able to afford a tank of gas let alone a modest house in Glen Park.

Glen Park
2007 vs. 2017

Average cost of a single family house
2007 - $1,059,660
2017 - $3,274,349

Average cost of a cup of coffee
$1.65
$2.73

Average cost of a Condo/Loft/TIC
$833,878
$2,068,993

Average cost of a gallon of gas
$3.25
$8.18

Average cost of a multi unit building
$1,065,333
$3,123,467