In 1998 you could buy a house (not including lot) in Lake Havasu for $76,900, and a fairly decent lot for $18,000.
This is a current page out of a local real estate magazine. Homes are priced in the mid to upper 200's. Lots are scarce and starting around $90,000. Amazing what 10 years can do. I wonder what the next 10 years will bring?
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$77K in 1998 is $96K in 2007 dollars, so I predict, once the bubble is over and prices are normalized, prices will be roughly $115K ten years from now.
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