Loading ...Looks to complicated for me. Years ago, I would enter a price on the calculator like for example a house $40,000 then go plus 7% plus 7% plus 7% over and over for 10 times to see if it matches that “todays price. If not I’d do it over and over with different percent numbers until it matched..
I found this Percent Groth Calculator, but never used it. I didn’t want to unblock adds.
Percent Growth Rate Calculator (miniwebtool.com)
Here’s another. I used it. A $40k house cost in 1982 and $400,000 cost in 2022 for 40 years 5.92%/yr. At $600k its 7.005% Houses are behind the curve not 20 times more. At 20X the $40k house S/B $800k, which is 7.777% average inflation rate. Pizza slice .15 cents 40 years ago. $3.50 today8%.
P.S. I may have gone back to far 50 years. 1972. We had $40k houses here from 1970 to 1980, so maybe 40 to 45 years would be better to calculate.