Real Estate Crash thread

[XXX-er]

a few years ago the tanker truck delivering acid or something bad that they use in the mill leaked all over the highway people drove thru it and it splashed on a bunch of cars so about 40 cars were totaled

a lot of really nice down to earth folks in Trail cuz they were all union

[bennymac]

a lot of really nice down to earth folks in Trail cuz they all have lead poisoning

FIFY

[XXX-er]

yeah my dad was the foreman at a steelplant in Burnaby where they would get guys from trail and he said they did crazy things, he put it down to the lead

[bennymac]

but such fantastic biking and skiing there

This is how I imagine the people in Rossland are looking down that hill

[rideit]

I wanna know what tune that dude in the back is air guitaring too.
In my head I think it has to be Queen.

[possum]

Too bad there’s a Canuck prohibition on ‘Murcans buying property, I’d like to get me some sweet exchange rate action on Rossland RE

[Name Redacted]

Too bad there’s a Canuck prohibition on ‘Murcans buying property, I’d like to get me some sweet exchange rate action on Rossland RE

Isnt that ban only in metropolitan areas like Vancouver?

[rideit]

LOL. (In a very sad way)

https://891khol.org/jacksons-new-wor...llion-a-piece/

[jackstraw]

The gall to call that workforce housing

[anotherVTskibum]

People are always looking for the next cool place to live like where they live will fix all their problems. It usually won't even if you cash out and have a million bucks in the bank when you move there, there is a reason it costs so much here, and not there.

If you've got enough in the bank that career availability doesn't matter, it does open up a lot of areas that are cheap precisely because there are not good-paying jobs nearby. Of course, that turn means that there aren't a lot of people working for a living to hang out with, either.

[I Skied Bandini Mountain]

Workforce housing for doctors and lawyers? How is this not an article from the Onion?

[Self Jupiter]

Trustafarian workforce housing

[XXX-er]

but such fantastic biking and skiing there

This is how I imagine the people in Rossland are looking down that hill

Trail is a very gritty mill town which I could see & smell, it was pointed out the winter in Rossland is really long. Employees would all take company buses up & down the hill together, Someone splained it to me that you are either in this union or that union, so everyone knows what you do/ how much $$$$$ you make, back then groups of Italians or Hungarians immigrated in droves. If you were an engineer you probably didnt live in the house with the stream running thru the basement, i was told there was a nicer section for proffessionals but really it was all just a big stinking bowl

we had a large systems HW guy who had been there 42 years when i met him, I think he might have been a genius. He and the head of the data center told me the chair at Red mtn was built with parts the ski club " borrowed " from Cominco for a community project and everyone was in on it

from kelowna I made the odd trip to the west Koots to fix some HW maybe go skiing and biking wasnt a thing yet but you would meet old skiers at Red that had been skiing there for 40 yrs and they were still on the same gear, I used to ski with the youngest of the " old bastards " at Big White before the cancer got him

[alpinevibes]

Workforce housing for doctors and lawyers? How is this not an article from the Onion?

Towns need those white collar professionals and those professionals are only going to stick around if they can have and afford a reasonable place. It may be among the ultimate first-world problems, but it’s valid in the Aspen and Jackson’s of the world.

Its built for a segment of the workforce; we have places here that are $2-2.5M with work and residency required and are deed-restricted, appreciation-capped.

The trustafarians have rent paid on the condo,
Condo mortgage or got a one-time deposit to buy the $5-10M place.

[Ted Striker]

Isnt that ban only in metropolitan areas like Vancouver?

Yes, but it's defined by much smaller designations. You can still buy a house in Smithers and be XXXer's neighbor, but you can't be Gary's neighbor in Terrace. (although I'm certain there are lots of workarounds)

Here's the lookup tool

[bennymac]

Terrace has Americans on ignore - that fits

[Ted Striker]

And Whistler doesn't. That fits too.

[Whiteroom_Guardian]

MY PT and her husband just bought a place in the new Story Mill subdivision. Theirs was not "affordable" it is a market rate unit and they paid $607K for what is a small starter home.

FWIW I have toured those and they are all really well built with some super cool green/efficiency features etc. Worth the price IMO compared to a lot of the crap being built in Belgrade with college dorm finishes etc.

Bozeman will always be fucked but prices in Helena are trending down. Lots more houses on the market and seeing lots of price reductions.

Saw a great bumper sticker in town the other day: "Too poor for Bozeman, too ugly for Missoula." Lol

I've been working up in Helena a bit lately with some clients. Anywhere that stuff was overpriced there are price reductions, but stuff that's priced competitively is bonkers. Got beat out on a downtown Helena bungalow a couple weeks ago. 10 offers in the first 24 hours. The demand is there for people who NEED a house like those relocating for a job (lots of that in Helena), those blowing tons on rent with a family, etc etc.

[yeahman]

I've been working up in Helena a bit lately with some clients. Anywhere that stuff was overpriced there are price reductions, but stuff that's priced competitively is bonkers. Got beat out on a downtown Helena bungalow a couple weeks ago. 10 offers in the first 24 hours. The demand is there for people who NEED a house like those relocating for a job (lots of that in Helena), those blowing tons on rent with a family, etc etc.

Interesting, what was it priced at?

Friend has his deceased parents' home on the market for 499, down from 520, and still no bites. House needs updating but has a very good location on upper west side, large yard, and a great view of Mt. Helena.

[Whiteroom_Guardian]

Interesting, what was it priced at?

Friend has his deceased parents' home on the market for 499, down from 520, and still no bites. House needs updating but has a very good location on upper west side, large yard, and a great view of Mt. Helena.

Under 400k and great location + furnished etc.

Your friends parents house needs a TON of updating and the next closest comp that is currently under contract is listed at a lower price, in the same neighborhood, and much better shape inside with what looks like a better yard.....

[yeahman]

Under 400k and great location + furnished etc.

Your friends parents house needs a TON of updating and the next closest comp that is currently under contract is listed at a lower price, in the same neighborhood, and much better shape inside with what looks like a better yard.....

Totally agree it's overpriced. I would have done a lot of things differently with that house but not my circus, not my monkeys..

[Bunion 2020]

FWIW I have toured those and they are all really well built with some super cool green/efficiency features etc. Worth the price IMO compared to a lot of the crap being built in Belgrade with college dorm finishes etc.

No doubt, I wrote the stormwater permit for that project and work with the GC a bit, they do quality work. But as was said, that is a big nut to have to come up with every month.

[Name Redacted]

If you've got enough in the bank that career availability doesn't matter, it does open up a lot of areas that are cheap precisely because there are not good-paying jobs nearby. Of course, that turn means that there aren't a lot of people working for a living to hang out with, either.

WFH turned that concept on its head though.

[yeahman]

WFH turned that concept on its head though.

Yeah I was gonna say..

[Foggy_Goggles]

LOL. (In a very sad way)

https://891khol.org/jacksons-new-wor...llion-a-piece/

Gross. If Jackson wants to do that and become whatever the fuck that is where everyone lives in subsidized housing below some threshold I guess that's there business. At that point, your "just the help" and the riches are just making sure that they have attorney's and dermatologists and cardiologist and whatever the fuck else they want. The "workforce" is the product not the customer.

But the bigger question I got is, where did all the fuckin' money go? A 2/1 for a $1million plus subsidies? That's gotta be over $1K per square foot! I don't think Kevo's painters are working on that project.