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Land Values Drive Home Price Volatility

Sunday, October 16, 2016 4:25
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(Before It's News)

from CoreLogic

When homeowners think about the value of their properties they usually focus on the physical attributes of their houses and pay less attention to the land parcels on which their houses sit. This makes sense since most people spend more time inside their houses than in their backyards. But in many housing markets, especially expensive markets on the East and West Coasts, the values of residential land parcels exceed the replacement costs of houses.

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