Someone asked for an updated version of our inflation adjusted price history on a log scale, so here it is.
So how fast has the Victoria single family home market been appreciating in the last 55 years? As you can see on the graph, the equation is . To convert that to a percentage yearly increase, we just take the equation for compound interest () and solve for the rate. I’m ashamed to admit I had to look up how to solve for r in this case, but it’s been a while since high school. In the end end we have:
How long can that kind of appreciation continue?