Real Estate Crash thread

[neckdeep]

Tennessee is super hip right now. It's actually a really cool state. .

Bwahahaha.

Sorry, no. Tennessee is one of the most regressive places in America. Yeah, it's been about 100 years since the Scopes trial but it's still a hotbed of anti-science biblical literalism. It's racist as hell and quite segregated. Its surprisingly violent, everyone believes they need to be armed to the teeth and its probably the creepiest place I ever lived. You can't throw a rock in that state without hitting some religious freak who thinks they should be telling other folks how to live their lives. That's the real Tennessee. If ya think Nashville is Tennessee, then you have mistaken the oasis for the desert.

Bottom line: if Tennessee was "hip" or "cool" then it wouldn't have a bigoted fundamentalist troglodyte like Marsha Blackburn for a senator. Ok? Marsha Blackburn is the real Tennessee. You and the rest of the new people are just visiting. Thats the truth. If you want to live your life being ruled by the Southern Baptists and Church of Christ, then Tennessee is the place. The state is run by bible beaters who think compromise is a sin and they do not willingly share power.

[mcski]

Isn’t Dollywood a sanctuary city?

[neckdeep]

Dolly is literally the nicest, most kind hearted public figure in the entire state. She is a treasure.

[rideit]

Saint Dolly Of The Sacred Twang.

I’d buy that candle.

[Core Shot]

Saint Dolly Of The Sacred Twang.

I’d buy that candle.

Doop candles?

[fomofo]

Saint Dolly Of The Sacred Twang.

I’d buy that candle.

+1

[zion zig zag]

Bwahahaha.

Sorry, no. Tennessee is one of the most regressive places in America. Yeah, it's been about 100 years since the Scopes trial but it's still a hotbed of anti-science biblical literalism. It's racist as hell and quite segregated. Its surprisingly violent, everyone believes they need to be armed to the teeth and its probably the creepiest place I ever lived. You can't throw a rock in that state without hitting some religious freak who thinks they should be telling other folks how to live their lives. That's the real Tennessee. If ya think Nashville is Tennessee, then you have mistaken the oasis for the desert.

Bottom line: if Tennessee was "hip" or "cool" then it wouldn't have a bigoted fundamentalist troglodyte like Marsha Blackburn for a senator. Ok? Marsha Blackburn is the real Tennessee. You and the rest of the new people are just visiting. Thats the truth. If you want to live your life being ruled by the Southern Baptists and Church of Christ, then Tennessee is the place. The state is run by bible beaters who think compromise is a sin and they do not willingly share power.

Idaho sure is trying hard to keep up with Tennessee in the batshit crazy politicians world.

[neckdeep]

Idaho sure is trying hard to keep up with Tennessee in the batshit crazy politicians world.

Yep.

Which is why you're not going to see me using the words "hip" or "cool" in the same sentence as "Idaho".

[Foggy_Goggles]

What's the Venn Diagram between "where you lives sucks" and "don't move here, we are full" and mountainy AF instas "living my best life"?

Sent from a 6 m/s face melting thermal

[Bunion 2020]

Yep.

Which is why you're not going to see me using the words "hip" or "cool" in the same sentence as "Idaho".

I loved living in Idaho but I couldn't stand a lot of the people. I could see considering it as the Tennessee of the Rockies.

[Dantheman]

Idaho is the only state I'm aware of where one of it's best known characteristics is a sizeable neo Nazi population.

[neckdeep]

I loved living in Idaho but I couldn't stand a lot of the people. I could see considering it as the Tennessee of the Rockies.

Well, it's like this....

Idaho is way better because it has less than half Tennessee's population and twice the square miles. Moreover, 75% of that land is public in Idaho versus 10% in Tennessee. Thus, in the all important statistic: relative density of religious bigot asswipes per square mile of recreatable public lands...not even close.

[Dantheman]

As someone who has never lived in the east 90% of land being privately owned is hard for me to grasp.

[rideit]

Texas takes the cake, 98% private ownership.
However, only 5% of it is in any way interesting, so….

[Foggy_Goggles]

I'm starting to see a long more seasonal and long term rentals. They seem to be very expensive. I have a feeling that the STR market is pretty saturated. If you look at AirBnB or Vrbo for for dates coming up it "looks cheap". Here is an example https://rockies.craigslist.org/apa/d...777783915.html

These property were just completed. I rode my bike though there and it's city realtors with their flip signs out, open houses trying to look mountainy AF. I don't get there game? Does rent cashflow a new place in Rendezvous?

Anyways, it looks like there is an opportunity to go back to the House Share Ski Lease kinda this. If the appreciation is looking a bit more moderate moving forward, Would you spend $1500-$2000 a month to share a house with a couple other families?

Is this what affordable housing looks like if you want some roomates? I mean the Town of Winter Parks 1bd units that you need to income qualify for and actually have a job are $2k a month.

Something is going on. It looks like the mid grade production house market is softening and I think the investors are looking for an exit.

Here are a couple more examples

https://rockies.craigslist.org/apa/d...777783310.html

https://rockies.craigslist.org/apa/d...768682041.html

[Bunion 2020]

Something is going on. It looks like the mid grade production house market is softening and I think the investors are looking for an exit.

Seeing some more of the same.

OTOH, wrapping up the road system on a 160 acre 34 lot parcel east of town. It will be high end homes on 1 acre lots and a bunch of open space and some trails. 31 have already pre-sold and we don't even have plat approval. The proof will be next spring when building season begins.

[Dantheman]

I wouldn't bet on any kind of a significant price drops in Utardia. I attended a housing conference on Tuesday where one of the data points was that we're currently about 30k housing units short and need to build 150k new ones by 2030 just to maintain that deficit. 2030 is not that far away.

[Bunion 2020]

And people keep moving to the SL Valley just like they keep moving to the Gallatin valley.

[BFD]

Seeing some more of the same.

OTOH, wrapping up the road system on a 160 acre 34 lot parcel east of town. It will be high end homes on 1 acre lots and a bunch of open space and some trails. 31 have already pre-sold and we don't even have plat approval. The proof will be next spring when building season begins.

isn't illegal to sell unplatted lots?

[Bunion 2020]

Notice of intent, all they put down is a small deposit on the right to purchase.

[dan_pdx]

NYT says the market is so broken that even Kalamazoo is becoming unaffordable

https://www.nytimes.com/2024/08/22/b...smid=url-share

[4matic]

Still many hundreds of units coming online in the next year. Although, new multi starts have stalled.

Year over year rents fell in most metros according to Redfin analysis. Some notable Cali metros below:

Los Angeles down -4.4%

San Francisco down -7.6%

San Diego down -12.7%

In LA some rentals, particularly those without parking are down 15-20% from peak highs around 2022. Just rented a unit for $2150 (took 45 days) in Elysian Park area that previously rented for $2500 in September 2022.

[Core Shot]

Tahoe dreaming
https://www.priceypads.com/49-5-mill...tal-bay-nevada

I did not have private funicular on my list.

[J. Barron DeJong]

From the DoJ’s announcement of the antitrust lawsuit against RealPage (the rental price fixing software company):


https://bsky.app/profile/chrisgeidne.../3l2fljideoc2f

That satisfied customer quote!

[neufox47]

By everyone we mean the top .01%.


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