Real Estate Crash thread

[AdironRider]

Oh and every architects wet dream ... flat roofs!

[Foggy_Goggles]

Yeah, $280 ain't bad but I'm guessing that their is lot lot/HOA on top of that. Maybe even a Metro District to pay back the developer for the infrastructure. Gotta watch for the water and sewer fees also, because their can be recapture there also.

[Core Shot]

The latest obscenity from the teton valley housing crisis. Trailers without wheels, basically, crammed in side by side amid commercial zone lots. $280,000 for a shoebox or so I was told.

What a joke. This valley has turned into a massive festival of greed.

Attachment 473146

I’m old enough to remember trailers without wheels on the village road.
Yep. Sold and scraped. It’s still there. Posed as affordable housing. Just not affordable anymore.

Crusty Kurt had one of them trailers. They allowed him to get the new fancy houses. The floor was level but the price went up.

Is Kurt still living? Haven’t heard anything for years.

[neckdeep]

Yeah, $280 ain't bad .

Seriously? $280k ain't bad?

Just for reference, my mom bought a 3br/2 ba condo down the street for $290k in 2020. It has 3 times the square footage, high ceilings and nice landscaping. These are total shitboxes by comparison.

[The Suit]

Is Kurt still living? Haven’t heard anything for years.

I haven’t seen him in forever, but last winter I asked Duffy at TVS and he thinks Kurt is still around somewhere.

[skaredshtles]

Seriously? $280k ain't bad?

Just for reference, my mom bought a 3br/2 ba condo down the street for $290k in 2020. It has 3 times the square footage, high ceilings and nice landscaping. These are total shitboxes by comparison.

Yeah - but how much is her condo worth *now*?

[rideit]

Tree-fiddy

[skaredshtles]

Tree-fiddy

[Foggy_Goggles]

Two people or a small family may be able to afford a mortgage on $280. I'm not saying its not a shit box worth $99k. I think the term is "Park Model". Here are the one's round here. https://rockies.craigslist.org/reb/d...673233854.html

Plus a shit ton of lot rent, amenities and such. Where is that at Victor?

[dan_pdx]

Two people or a small family may be able to afford a mortgage on $280. I'm not saying its not a shit box worth $99k. I think the term is "Park Model". Here are the one's round here. https://rockies.craigslist.org/reb/d...673233854.html

Is that barnwood pattern laminate on the island and counters? Hard pass

[rideit]

Tacky pretending to be fashionable

[Foggy_Goggles]

Bro, do you even ship lap?

Plus check out the lambo doors on the cabs. These are trailers.

https://www.realtor.com/realestatean...=srp-list-card

This one says no HOA or fees which is bullshit.

[neckdeep]

Yeah - but how much is her condo worth *now*?

Units in her condos peaked at $550K but have come down some.

My point is, if these shitboxes are worth $280K, then the condos are worth $750K. But they aren't. Never got close to that.

Just saying, something is seriously fucked up if $280K buys you less than one third of what $525K can get. This is just gouging the desperate workforce, plain and simple.

[XXX-er]

Oh and every architects wet dream ... flat roofs!

just leave the snow blower up there all winter & callergood

[DoYou WannaDance]

The latest obscenity from the teton valley housing crisis. Trailers without wheels, basically, crammed in side by side amid commercial zone lots. $280,000 for a shoebox or so I was told.

What a joke. This valley has turned into a massive festival of greed.

Attachment 473146

What are they supposed to build time machines so people can go back 5, 10, 50 years when property was affordable? I'd think the only folks buying are business owners for their employees. Probably fine as a free/subsidized rental that goes with your unskilled service job.

High density zoning and a mixed income 10-12 story mini towers would be better ways to solve the housing crises in these places but all the local karens would flip out and probably kill the developers or politicians if they allowed them.

[Foggy_Goggles]

High density zoning and a mixed income 10-12 story mini towers would be better ways to solve the housing crises in these places but all the local karens would flip out and probably kill the developers or politicians if they allowed them.

The 90 unit apartment complex got preliminary approval in my hood despite some trulya gross Karening. I'll let you know what the rent is in a couple of years.

Oh...weird take on "Unskilled Service Job". What actually would that be? Like no skills?

[neckdeep]

What are they supposed to build time machines so people can go back 5, 10, 50 years when property was affordable?.

The only reason the shitboxes can sell for $280K is because there's nothing left to rent long term. There's nothing to rent because a full 20% of ALL the residences in the valley are now STRs. 1 in 5 of all houses! This nonsense is what happens when the dirtpimps run the show.

Like I said, a massive festival of greed, mostly fueled by a runaway STR market that just stomped the shit out of this place.

[DoYou WannaDance]

The 90 unit apartment complex got preliminary approval in my hood despite some trulya gross Karening. I'll let you know what the rent is in a couple of years.

Oh...weird take on "Unskilled Service Job". What actually would that be? Like no skills?

Wasn't trying to put down any jobs. Service/seasonal/transient etc. Mountain towns were mecca's for folks in these industries until recently when they all of a sudden had nowhere to live.

You think people will be taking out mortgages to actually live in these trailers? Of course not.

[Foggy_Goggles]

You think people will be taking out mortgages to actually live in these trailers? Of course not.

Why not?

[DoYou WannaDance]

The only reason the shitboxes can sell for $280K is because there's nothing left to rent long term. There's nothing to rent because a full 20% of ALL the residences in the valley are now STRs. 1 in 5 of all houses! This nonsense is what happens when the dirtpimps run the show.

Like I said, a massive festival of greed, mostly fueled by a runaway STR market that just stomped the shit out of this place.

Its probably higher than 20% those are the ones actively listed. Can't see any restrictions being put in place though considering most of the long term residents and home owners likely have their hands in the cookie jar in some way or another.

Only solution is to keep building but asshats will just cry about all the 'traffic' in their remote exclusively white destination towns.

[DoYou WannaDance]

Why not?

High mortgage rates high monthly payments low confidence they can recoup on a sale in the future when they aren't brand new. High HOAs and taxes relatively speaking no lawn or land etc etc. You going to buy one?

[Bunion 2020]

Oh and every architects wet dream ... Living roofs!

FIFY

[rideit]

You think people will be taking out mortgages to actually live in these trailers? Of course not.

I’m not sure you quite grasp how dire the housing/available inventory/costs are of any other option currently. (These would be by far the cheapest thing you could “own”, lol).

But yeah, I’m gonna guess a lot of them will end up as managed rentals.
Hopefully long term only.

[Toadman]

The latest obscenity from the teton valley housing crisis. Trailers without wheels, basically, crammed in side by side amid commercial zone lots. $280,000 for a shoebox or so I was told.

What a joke. This valley has turned into a massive festival of greed.

Attachment 473146

You're not alone neckdeep.

https://ktvz.com/news/bend/2023/10/0...artment-units/

[neckdeep]

Only solution is to keep building but asshats will just cry about all the 'traffic' in their remote exclusively white destination towns.

Thing is though, this was supposed to become the worker community for J-hole. We weren't a destination town and we sure as hell ain't exclusively white. 1 in 6 people here are Hispanic. We don't have "mountain town" infrastructure.

But, if $280K only buys this Driggs shitbox, one really has to wonder what the fuck J-hole is going to do for workers. This is really undermining a lot of predictions in regards to how Jackson's economy was going to stay functional.