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A house, or any other item, is only worth as much as someone else is prepared to pay for it. This will vary from year to year,and from place to place. There is no 'correct' answer to this question, unless you put the house on the market and see what interest it attracts. For insurance purposes, you would need to have it valued for 'replacement' cost - how much would it cost to rebuild it in the event of a disaster.

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Q: If you paid a house 200000 us dollars in 1961 how much is it in 2008?
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