Real Estate Crash thread

[Toadman]

I have formica countertops in the kitchen. I am ashamed.

Are they avocado green?

[JimmyCarter]

Reminds me of this house near me:

Malicious Erection is a fantastic band name

[MontuckyFried]

...with new home construction permits costing nearly $40k...

Wait, WHAT?! That's insane!!! No wonder builders don't want to bother with cheap homes. $40K for a permit is straight greedy. Is that kind of cost typical these days?

[old_newguy]

Wait, WHAT?! That's insane!!! No wonder builders don't want to bother with cheap homes. $40K for a permit is straight greedy. Is that kind of cost typical these days?

I’m assuming that number is including SDCs.

Municipalities are typically still coming out behind trying to keep and maintain infrastructure even considering those rates.

[dan_pdx]

I’m assuming that number is including SDCs.

Municipalities are typically still coming out behind trying to keep and maintain infrastructure even considering those rates.

The theory is that SDCs might pay for initial infrastructure construction, but over time, there's not enough money for maintenance and we need new SDCs from new development to help cover maintenance on existing infrastructure. Strong Towns calls it "the growth Ponzi scheme".

[ötzi]

Reminds me of this house near me:

What's all this about a malicious erection? Spiteful, innit?

[ötzi]

Friend of the family moved into a new place. Couple days later neighbor comes over, welcomes him to the neighborhood but says they need to talk about "Your fence". What about it, our friend asked. Well it's old and rotten and falling down. It's a hazard. And what's more it's built 6" over the line onto our property.

Whaddaya mean,"My" fence? our friend said. And that was the end of that.

[Toadman]

Wait, WHAT?! That's insane!!! No wonder builders don't want to bother with cheap homes. $40K for a permit is straight greedy. Is that kind of cost typical these days?

Yes, it is insane. It's not all bldg permit fees. There's a big chunk that goes for SDC's. I should have said building permits, SDC and inspection fees add up to about $40k when all is said and done.

[babybear]

Friend of the family moved into a new place. Couple days later neighbor comes over, welcomes him to the neighborhood but says they need to talk about "Your fence". What about it, our friend asked. Well it's old and rotten and falling down. It's a hazard. And what's more it's built 6" over the line onto our property.

Whaddaya mean,"My fence?" our friend said. And that was the end of that.

that was a great set-up. tell your friend I say "Bravo" on his response

reminds me of the insurance commercial about "having a problem with our neighbor's fencing" - I usually find those commercials stupid but that one was funny

[Benny Profane]

Portland relaxed zoning on single family homes in August 2020. Give it time to see the effects. Also, just because housing prices are going up in Portland (like everywhere) does not mean that it is not working.

Why are you against 5 acres minimum in Teton Valley outside of city centers? Build up, not out, seems much more desirable than sprawling cul de sacs and big box stores. The only way developers will build smaller, more dense housing in places like Teton Valley is if they have no other choice.

Please stop building in Teton Valley. There are certain places that should not be spoiled.

[abraham]

Jesus fuck, did I just hear a please like and subscribe for outright ads? Gross.

[AK47bp]

that was a great set-up. tell your friend I say "Bravo" on his response

reminds me of the insurance commercial about "having a problem with our neighbor's fencing" - I usually find those commercials stupid but that one was funny

Dr Rick is hilarious

https://youtu.be/-IKW9s8WHrw

https://youtu.be/PTs6UY1G9wM


Be sure to like and subscribe


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[babybear]

the pls like and subscribe is gross. that is weird that they added that although I guess not with media these days

Please stop building in Teton Valley. There are certain places that should not be spoiled.

that is so sweet of you. I feel like I just saw this happen

[RootSkier]

Please stop building in Teton Valley. There are certain places that should not be spoiled.

The Teton Valley was spoiled like 140 years ago.

[Yonder_River]

Builders are good at maximizing returns. Close in lots now are so expensive that you have to build a McMansion or you're just leaving money on the table: why build a $500k house when you can bump up the footage and add granite and have a $900k house? Portland now allows four homes to be built on most lots, but I haven't really seen anyone do that. Seems like it's easier to build one house and sell it for $900k or maybe two $600k townhouses than to build a 4-plex and sell the units for $350k each or whatever.

It'll happen eventually. They will build four three-story units on an old single family home lot here and sell each of them for generally a least a million. No yard, just a small rooftop deck.

[tgapp]

It'll happen eventually. They will build four three-story units on an old single family home lot here and sell each of them for generally a least a million. No yard, just a small rooftop deck.

This is already happening in SLC. We live on 7th east (the busiest street in the city), and two .25 lots were recently torn down and built up with four 1800sqft luxury condos on each of them - all 8 of the condos sold for between $525k and 550k . On 7th east.

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[Whiteroom_Guardian]

You must be right. Also, just discovered that House Hunter memes apparently are a well established, hilarious thing. Guess I'm late to the party on this one, but really glad to see everybody else has noticed and been mocking this nonsense for years now:
Can You Believe the Hilariously High Budgets on House Hunters?
https://www.southernliving.com/news/...s-high-budgets









Lots more gold here: https://fun-memme.blogspot.com/2014/...ters-meme.html

Lol

I showed a great classic house on a large treed lot a few blocks from main street to a client a couple years ago. I walked through and was thinking, "Yeah could use new kitchen flooring, maybe counter tops, a couple other minor things and some updating/clean-up of the landscaping."

The client was like, "Oh wow, this house is a complete tear down...."

lol what?

[4matic]

I’d prefer Formica or laminate over cheap granite. High end granite can be nice but the abstract pattern and color of builder grade granite is out dated and tasteless

[Skidog]

Formica! You guys are baller!

I still have the original 1955 tile in the kitchen and bath. Green and yellow in the kitchen, black and pink in the bath. I want to redo both, but it's just so stupid when I really think about it. I set the cutting board on the kitchen counter and it holds it fine. I wipe it down and it looks clean. When in the shower, the water runs off the pink and black tile into the 65 year old tub and down the drain.

So I'd drop 50k into this for what again?

Resale only..if you're cool with it, why bother?

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[Skidog]

This is already happening in SLC. We live on 7th east (the busiest street in the city), and two .25 lots were recently torn down and built up with four 1800sqft luxury condos on each of them - all 8 of the condos sold for between $525k and 550k . On 7th east.

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Jesus fucking Christ that kinda sucks really. I guess if ya can't build out anymore ya build up.

Populations kinda stagnating in general (not as many new babies) but seems that's one of the few choices, up, in some random flood zone, or maybe hurricane alley. Space is limited.

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[Skidog]

I’d prefer Formica or laminate over cheap granite. High end granite can be nice but the abstract pattern and color of builder grade granite is out dated and tasteless

Went with quartz...yeah I know it's like probably .00005% quartz, but man hot pans, cutting on it, all good. Pretty durable.

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[Buster Highmen]

Malicious Erection is a fantastic band name

Ask Cono for the TR.

[fastfred]

when I'm not blowing myself I prefer to jerk off relators anyone in the planning department and no I don't do anal for venmo or paypal or credit cards I prefer cash or check
people keep complaining about prices but I don't know what the problem is the cost of my wood and the average home price don't seem to bother me

[neufox47]

It'll happen eventually. They will build four three-story units on an old single family home lot here and sell each of them for generally a least a million. No yard, just a small rooftop deck.

One of the best things about living in my condo in Boston was that the only fucking thing I did to that place for 5 years was paint a bedroom. Oh and I put up a ski rack. Now I have done 5 times that amount of work in my house I’ve lived in for two months.

[Benny Profane]

The Teton Valley was spoiled like 140 years ago.

There's Jackson spoiled, then there's Summit County spoiled, and, go to 11, and there's Jersey. I'll put Jackson at 2.5 on that scale.