Quote:
Originally Posted by supafamous
Was in Richmond on Saturday and drove by the house I grew up in as a child - it's out in the farming area (5 road/Blundell) and it's listed now for $2M. It's a 72'x302' lot (half acre) with a 3 bedroom rancher (1500sf) on it.
Back in 1989 my parents sold it for $189K so nearly a 11X increase in "value" in 27 years. Insane.
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That is not too outrageous is it?
$189K to $2M over 27 years is an annualized return of 9.13%. The annualized total S&P500 return from Jan 1987 - Jan 2016 is 9.47% (value of $2.4M)
(Used
https://dqydj.com/sp-500-return-calculator/)