Question

Over the past 20 years the prices of homes have increased by 30%, resulting in the average price of a house being $500,000. What was the average price of a house 20 years ago?

Answer 1

Explanation:

Answer 2

In the best 30 years for the housing market (1976-2005), real price appreciation averaged 2.2% per year. In the worst 30 years for housing (1895-1924), real price appreciation averaged -2.0% per year.