The real estate boom that is just beginning to deflate in many regions of the U.S. seems to be picking up steam in, of all places, Alaska. We just heard from a friend of ours who in 1989 bought a stake in a property three hours south of Anchorage. The land lies in Soldotna, a town in the oil patch that’s popular with fisherman from the lower 48 as well as with oilfield workers on R&R.

Although there was almost no appreciation in the first few years, the value of his property has recently gone through the roof, rising 39.57% in the last year and an average 27% over the last three years. Check out the numbers below, from the tax assessor. Can the day of the million dollar igloo be far off?

(Click on image to enlarge)