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  1. #22326
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    Quote Originally Posted by Mani_UT View Post
    Wow. Unreal PC never clamped down hard on that.
    My town did it too late (better late than never) but it's a move any desirable place should do.
    it is crazy, but are those STR available listed year-round? I know a ton of families only rent their homes during Sundance, so their house is still lived in by locals. So technically 43% may be high -but I'm sure its still very high.

    It pushes out the locals sure but what local can afford all those massive houses all being rented downtown? Millionares have to buy somewhere else I guess. Minimum wage workers were not renting out those.

  2. #22327
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    Quote Originally Posted by Kevo View Post
    YoY cost of ownership is up more than 80%. With things starting to cool off in California, I really wonder how many more cash infused buyers there are lined up to buy in Montana. Certainly the local economy cannot support $4k mortgage payments for anyone other than local doctors and remote workers.
    This is true in most hot markets imo. A correction back down to prices where the mortgages are sustainable for the local economy will happen at some point, no?

  3. #22328
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    Probably not in mountain towns.

  4. #22329
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    Quote Originally Posted by Lindahl View Post
    This is true in most hot markets imo. A correction back down to prices where the mortgages are sustainable for the local economy will happen at some point, no?
    sustainable for the local economy is meaningless drivel

  5. #22330
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    Quote Originally Posted by Lindahl View Post
    This is true in most hot markets imo. A correction back down to prices where the mortgages are sustainable for the local economy will happen at some point, no?
    Not sure in desirable areas. If people can work remotely it opens up a world of possibilities as to where they can live. I read on the Reddit Mammoth forum that prices have tripled in the last 3 years I guess prices were fair 3 years ago, but now? Anyways, I don't imagine prices are coming back down to 2019 levels.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  6. #22331
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    Oct 2007
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    Quote Originally Posted by Lindahl View Post
    This is true in most hot markets imo. A correction back down to prices where the mortgages are sustainable for the local economy will happen at some point, no?
    In "Hot" markets like Boise, yes. In "Hot" tourism destinations, not so much. There will always be people from outside, who have money, and want a piece of that pie. Inventory is the only remedy in these towns. Right now the Summit county RE market inventory is up 60% from last year, so we are seeing prices maybe level out a bit. DOM is getting somewhat longer. Etc. But I doubt there's any kind of real correction back to locally affordability levels coming. Just a little churn by investment folks. Lots of flips and stuff like that. WFH also throws a big wrench into the local affordability thing. Till that phenomenon slows, (Hint: it ain't, no matter what Elon says), it is gonna be tough for the local baristas to own. But it always has been.

  7. #22332
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    Dec 2009
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    Several hot market factoids about this property:
    - sold for 27% over list
    - 500k return for seller in less than 2 years
    - pending to close in less than a week so cash sale

    https://www.redfin.com/ME/Portland/1.../home/85739187

  8. #22333
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    Guy did not own it 2 years by a few months to get the Capital Gain break? What is going on here?
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  9. #22334
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    Oct 2007
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    Quote Originally Posted by liv2ski View Post
    Guy did not own it 2 years by a few months to get the Capital Gain break? What is going on here?
    1031? Can't remember if it works with STCGs. Good for him.

  10. #22335
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    Feb 2007
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    Quote Originally Posted by Name Redacted View Post
    1031? Can't remember if it works with STCGs. Good for him.
    Here is another thing that blows my mind. How are 1031 even a thing. Imagine having some FB stock with big CG and rolling it tax free into say some AMZN stock without paying taxes. The whole RE world is way overly generous tax wise and it's fucking the middle class trying to own a single home.

  11. #22336
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    Cap gains tax differences and loopholes in general need to be eliminated.

  12. #22337
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    Nov 2002
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    1031s are only tax deferment. I believe the original intent was encourage residential rental properties. Obviously it isn't working out like that. The tax code, mortgage industry etc. is just one giant loop hole being exploited to the determent of many.

  13. #22338
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    Oct 2003
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    Quote Originally Posted by Foggy_Goggles View Post
    1031s are only tax deferment. I believe the original intent was encourage residential rental properties. Obviously it isn't working out like that. The tax code, mortgage industry etc. is just one giant loop hole being exploited to the determent of many.
    Yes.. The lawmaking caused by the legalized bribery by lobbyists should be made illegal.. But it won't be because conservatives want to keep expanding legalized bribery.. And the liberals are not much better than the conservatives in that matter.
    what's so funny about peace, love, and understanding?

  14. #22339
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    Quote Originally Posted by dunfree View Post
    sustainable for the local economy is meaningless drivel
    Not for non-resort/vacation towns. There are other types of hot markets out there.

  15. #22340
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    Quote Originally Posted by Lindahl View Post
    Not for non-resort/vacation towns. There are other types of hot markets out there.
    every market has a balance of buyers entering, sellers leaving, and a “local” group of “locals” buying in, and current area home owners trading up. What matters is who these are with what money. Many markets are unaffordable to locals

  16. #22341
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    Oct 2007
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    Brilliant!


  17. #22342
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    Mar 2005
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    They’ve had 100 year mortgages in Japan since the nineties

  18. #22343
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    Trust boomers to find the new and innovative ways to fuck over future generations.

  19. #22344
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    Quote Originally Posted by schuss View Post
    Cap gains tax differences and loopholes in general need to be eliminated.
    Really? Of all the bullshit going on in this country, that is what has you REALLY pissed off?

    Quote Originally Posted by schuss View Post
    Trust boomers to find the new and innovative ways to fuck over future generations.
    Feeling a little angry huh? And ya, it is the boomers that want 50 & 100 year loans.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  20. #22345
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    Isn't the daily mail a click bait celebrity gossip rag?

    Anyway, reading the article it looks like the UK already has 40y mortgages, and this is an attempt to convert "Generation Rent" into first time buyers.

  21. #22346
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    Hey Ted, did you see the New York Times just did a story about how awesome Bellingham is to visit? I'm sure all the Bham locals are stoked to have that exposure!

  22. #22347
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    Quote Originally Posted by Ted Striker View Post
    Isn't the daily mail a click bait celebrity gossip rag?

    Anyway, reading the article it looks like the UK already has 40y mortgages, and this is an attempt to convert "Generation Rent" into first time buyers.
    I don’t mind the daily Mail.
    It actually has more legit US news than CNN or Faux or Reuters etc.

    The right side is all titties and celebs.

    The left column is actually decent info sometimes.

  23. #22348
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    Quote Originally Posted by Core Shot View Post
    The right side is all titties and celebs.
    Their algo knows me all too well!

  24. #22349
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    Quote Originally Posted by The AD View Post
    Hey Ted, did you see the New York Times just did a story about how awesome Bellingham is to visit? I'm sure all the Bham locals are stoked to have that exposure!
    Yeah, and the local reddit sub was apoplectic.

    I get the feeling that the author hasn't actually been here. Go to Whatcom Falls and Cornwall Park? Are they driving a clapped out RV that's also their home? And do they need to score both meth AND heroin? Seems excessive.

    Anyone with even a passing knowledge of our massive green space / trail network / wilderness would laugh their ass off at those suggestions.

    And she didn't even mention Western's most infamous sculpture: Man Humping Bear
    Name:  EaL-WGWVcAAJRxN.jpg
Views: 276
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    The Horseshoe is a "popular brunch spot"? lol, there's no way she ever sat in one of those booths.

    Even the pictures weren't even remotely representative of what it's like here. Honestly, this was a collection of Bellingham 'institutions', ocean views, and the recently-reviewed-elsewhere. I wouldn't be one bit surprised if the entire piece was fabricated from other people's social media, and interviewing her friend who visited once.

  25. #22350
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    The bear seems to be enjoying it.

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