Americans spent more on Airbnb than on Hilton last year

[Jacques Strap]

Hmm... I ducked in here expecting that after 8 pages, someone would've made the joke that Paris just doesn't command the going rate she used to. Too easy? Too trendy to make fun of the famous who are famous for being famous?

[TahoeJ]

Just out of curiosity, would you have been able (or wiling) to purchase the home if you were not able to rent it out when you are not there? (Not picking on you personally, question applies to anyone else renting out their extra house that they don't actually live in)
Neckdeep gets it. There's always been vacation homes in Tahoe, and Tahoe would be a very different (and crowded) place if all the homes were occupied full time, but the shift in the past 5-10 years has been dramatic. Almost no home purchases are by locals. Long term rentals are beyond scarce, and have literally doubled in price in the last 10 years. Other than a few people I know that rent out their house when they are on vacation (which seems fair, provided you're screening guests) I don't know of any locals that are in favor of short term rentals in residential neighborhoods.

I definitely “get it” - which is why I bought in Tahoe Donner. Since we’re talking Truckee, I think it would make perfect sense to ban STR’s in both Glenshire and Sierra Meadows, for example. Sierra Meadows is where the house I would have felt bad about buying / STR-ing was located.

As for needing to rent the place out, yes and no. It was a 1031 exchange from a property in Colorado so for tax reasons we had to rent the new place out for at least the first 2 years. Now that we are past that point we will rent it out far less frequently so we can spend more time there or at least have the option (this was the compromise- I wanted to move full time).

[fastfred]

so it should be pretty funny when the shit hits the fan again and all these suckers who over paid for some shit hole condo in a resort town, with the premise that they could afford the place as long as they rented it 25 weeks a year at top dollar

suddenly they are holding the bag and their dick while they barely rent it for 6 weeks a year because no one can afford a ski vacation since the economy is in the shitter

then they all start dumping their short term rental properties at a discount because they are underwater and can't afford the mortgage on a second home, plus two cars, three kids, and an overpriced primary residence to boot welcome to colorado 2021

[TahoeJ]

^^ Pretty much. 2021 recession here we come.

[Name Redacted]

so it should be pretty funny when the shit hits the fan again and all these suckers who over paid for some shit hole condo in a resort town, with the premise that they could afford the place as long as they rented it 25 weeks a year at top dollar

suddenly they are holding the bag and their dick while they barely rent it for 6 weeks a year because no one can afford a ski vacation since the economy is in the shitter

then they all start dumping their short term rental properties at a discount because they are underwater and can't afford the mortgage on a second home, plus two cars, three kids, and an overpriced primary residence to boot welcome to colorado 2021

Were you in Breck during the recession? It was still fucking busy.

[dunfree]

The useful app is what they invented. Get it?

Uber didn't invent the ride hailing app. There was Taxi Magic before Uber existed. Uber took a good idea and combined it with a hustling ruthless execution and active contempt for the law in the right place (grossly underserved SF) with the right time (birth of true smartphones and a s shit down turn with people needing any work they could get). They actively branded and promoted themselves far better than anyone else in the space. And they hustled and branded and spread themselves. Anyways, you'll argue, or smugly condescend to say I'm right because you are that kind of e-douche. Bobby will be bobby. TGR never changes the people just act like older farts.

[mmmm...pow!]

so it should be pretty funny when the shit hits the fan again and all these suckers who over paid for some shit hole condo in a resort town, with the premise that they could afford the place as long as they rented it 25 weeks a year at top dollar

suddenly they are holding the bag and their dick while they barely rent it for 6 weeks a year because no one can afford a ski vacation since the economy is in the shitter

then they all start dumping their short term rental properties at a discount because they are underwater and can't afford the mortgage on a second home, plus two cars, three kids, and an overpriced primary residence to boot welcome to colorado 2021

That's all I'm hoping for.

[Benny Profane]

so it should be pretty funny when the shit hits the fan again and all these suckers who over paid for some shit hole condo in a resort town, with the premise that they could afford the place as long as they rented it 25 weeks a year at top dollar

suddenly they are holding the bag and their dick while they barely rent it for 6 weeks a year because no one can afford a ski vacation since the economy is in the shitter

then they all start dumping their short term rental properties at a discount because they are underwater and can't afford the mortgage on a second home, plus two cars, three kids, and an overpriced primary residence to boot welcome to colorado 2021

Dude, yeah, did you see a slowdown in Breck after after the worst financial crisis in decades and the recession that followed? No. It actually picked up. Prices went up. It's even more crowded. They won, man. They're doing just fine. If that didn't kill them, what will?

[Bobby Stainless]

I want some of them cheap ski condos.

[TahoeJ]

Dunfree referring to anyone else as smug, now that’s comedy.

[fastfred]

Were you in Breck during the recession? It was still fucking busy.

just got here a couple years ago guess I missed that one, can't remember shit maybe I got here in 2010 2001 or 1995 I have no clue

this one is going to be even better, colorado has one of the highest debt per person in the whole country, the whole state is strung out with cc debt, over priced house debts, and cars they can't afford
all in the name of keeping up with the joneses and looking good with their suv and gear they don't know how to use

[XXX-er]

And next stop ^^ is the Tammy wynette thread

[fastfred]

And next stop ^^ is the Tammy wynette thread

I"ve been working since 7 am this morning, it's that sitting at a desk in front of a computer bullshit

maybe I should start I hate my job thread? or just stick with I hate my short term rental neighbor's house, hell I"m gonna get high in an hour and go skiing don't worry

[TahoeJ]

this one is going to be even better, colorado has one of the highest debt per person in the whole country, the whole state is strung out with cc debt, over priced house debts, and cars they can't afford all in the name of keeping up with the joneses and looking good with their suv and gear they don't know how to use

Same deal for the bay area... and pretty much all over, really. This one will be labeled the consumer debt recession.

[XXX-er]

I"ve been working since 7 am this morning, it's that sitting at a desk in front of a computer bullshit

maybe I should start I hate my job thread? or just stick with I hate my short term rental neighbor's house, hell I"m gonna get high in an hour and go skiing don't worry

well bad luck or self inflicted by overextension of credit driven by FOMO, the #1 reason for divorce action is MONEY

which is a stat related to me by a lawyer altho he is a ( still married ) tax guy so what does he know ?

so whether you follow the Tammy wynette thread or not

financial failure will push one towards the TW thread

[Telemarketeer]

I don’t keep up with the joneses, they try to keep up with me.

[mmmm...pow!]

Same deal for the bay area... and pretty much all over, really. This one will be labeled the consumer debt recession.

Bay area is gonna crash hard. So many people making big money for sitting behind a computer all day that can be eliminated without it affecting biz that much. Last recession Tahoe was way down in numbers, even during the big years like 09/10 and 10/11. Wish I had my shit together to buy a house back then.

[TahoeJ]

Bay area is gonna crash hard. So many people making big money for sitting behind a computer all day that can be eliminated without it affecting biz that much. Last recession Tahoe was way down in numbers, even during the big years like 09/10 and 10/11. Wish I had my shit together to buy a house back then.

For sure. When the shit hits the fan I may try to buy another Tahoe house as an investment this time around and rent it out full time to a local. Back in 2009-12 I didn’t have the means (frankly, I was just trying to hang on to my primary residence) and it killed me seeing the obvious opportunity.

And yeah, 10/11 was amazing... biggest snow year ever and right during the recession so no crowds.

[Benny Profane]

Well, I think that we have established that prices won't drop very much when "the shit hits the fan" because there is enough pent up demand in the TGR community alone to fill the vacuum.

[neufox47]

You guys know the solution to the housing crunches in these towns is to build more housing, right? But then everyone will bitch about all the new development. Basically just humans resisting change like most humans do.

[TahoeJ]

You guys know the solution to the housing crunches in these towns is to build more housing, right? But then everyone will bitch about all the new development. Basically just humans resisting change like most humans do.

Pretty much every economic study ever has concluded that you can't build your way out of a housing crisis. Not that they shouldn't build anymore, just saying.

[XXX-er]

how does it ^^ get paid for and who buys it ?

[fastfred]

I don’t keep up with the joneses, they try to keep up with me.

putting the ranch in highlands bro

[fastfred]

pretty much summit county colorado is a victim of itself
so many pro growth people, so we build build build and invite more and more tourons to come visit
costs spiral out of control, construciton labor wages go through the roof, where else can you get $30.00 sq ft for framing labor and $22.00 sq ft for tile installation?

then you need workers to fill the ski shops, provided middle management bosses, and suddenly no one can afford to live here because the average property in breck is going for 700k
so you start buildling endless amounts of "affordable" housing and segregate the workers from the gapers, it's a vicious cycle, the local polticians slap themselves on the back every time the approve an affordable housing development

these morons put together a huge land swap with the forrest service a couple years ago, they couldn't suck their own dicks hard enough over it, the amount of press and high fives was unreal
so they hire a consultant so they can put together a plan to start buidling, sure enough they have pretty pictures and everything to go with their gov't sponsered development, the consultant tells them it will cost around 50 million to build the worker village that they imagined in their nice political world where money grows on trees

the project is ground to a halt until they figure out how to scam the tax payers into paying for their new little worker town

someday they will build it and it will just feed more workers for more growth for more tourists, where does it all stop?
next thing I know I've got two dip shits drunk smelling like booze buying donuts, cans of oxygen, and more beer standing behind me in the line at the grocery store arguing weather they are at 5 thousand feet or 7 thousand feet
it's comical and I hate to laugh but shit, buying a house 20 years ago seemed like a rip off
I love this place

[Benny Profane]

Pretty much every economic study ever has concluded that you can't build your way out of a housing crisis. Not that they shouldn't build anymore, just saying.

Oh, dude, please link those economic studies. Makes zero sense.