That's not true.
Minus a couple of areas, like beverly hills, it would be worth about 400,000
On average, in america, a house doubles in 30 years.
That's historical... You can look it up.
I don't live in Beverly Hills. In the example I gave using my current home, it has more than doubled in price in 17 years. The neighborhood where I live is fairly middle-class.
Using another personal example, the first house my wife and I bought, we purchased in the early 1970's for $13,000. We put around $10,000 into remodeling it. When we put it on the market about 12 years later, we sold it for $62,000. Today it is worth about the same as the home I presently live in and it is much smaller and very much older. It is also closer to the city center, which is where people want to live in Portland, OR.
The second house we bought, cost $72,000. We sold this house 15 years later for $175,000. Other than usual maintenance, the house required no remodeling to make it more saleable.
Both houses were well priced and sold within a few weeks of putting them up for sale.