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  1. #22526
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    Quote Originally Posted by Toadman View Post
    See my post upthread about Ketchum. And basically every ski town. So much for trickle down from the wealthy ski town class.
    Double check your link- the link in that post goes to an article about inventory liquidation.

    I think you were trying to post this-
    A Town's Housing Crisis Exposes a 'House of Cards' https://www.nytimes.com/2022/07/31/u...e-housing.html

    Anyone have a non-subscription link?

  2. #22527
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    Quote Originally Posted by Foggy_Goggles View Post
    Is that a saying realtors use in a rising rate environment? I wouldn't touch any rental that I couldn't cash flow immediately. Me thinks the days of having the STR income cover the mortgage and maintenance costs and cashing out on the equity are over.
    .
    Oh hell no. I'm just saying I'm not that worried about the rate personally if the numbers already look good- just that they might get better if/when it makes sense to refi. Personally I just want a LTR in a normal town.

  3. #22528
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    Quote Originally Posted by Lindahl View Post
    Yeah, would probably agree. I don't think vacation homes will see the same downturn. Not many are looking to cash out on their vacation home. I don't envision the same explosion of inventory that I'm seeing in city-ish locales, where people are trying to cash out at the peak before downsizing or moving away to cheaper areas (boomer retirement plan).
    20 years from now when there’s less snow, more fire, more people in inadequate infrastructure you gonna say the same? See: comments this page about the unavailability of service workers. Some vacation towns will be there, others wont. The cities are dieing bullshit is culture warring morons like derpsalot and this board aging into crotchety old fucks


    anyways, here’s some boomer schadenfreude “oh noes! There’s no small housing for us to downsize too!” Say people who e fought small housing forever
    https://www.bostonglobe.com/2022/07/...k-their-homes/

  4. #22529
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    I think Ötzi is skewing the demographics


    Of the state’s occupied homes, 54.8 percent are owned by residents ages 55 and over, according to a US census data analysis by the Massachusetts Housing Partnership. That over-55 contingent represents just over 22 percent of the state’s population. The percentage of older homeowners is higher in some suburban towns, such as Lincoln (65.7 percent) and Scituate (65.8 percent), and in communities on Cape Cod such as Falmouth (74.9 percent) and Chatham (81.6 percent)

    But also, wife and I planning on downsizing after the kids are out, but I’ll pay the same taxes for less house. So not sure I’ll be selling.

  5. #22530
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    Skewing them in what direction?

    It's gonna be interesting to see what happens to vacation area real estate when the boomers get serious about dying off.

  6. #22531
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    Quote Originally Posted by dunfree View Post
    20 years from now when there’s less snow, more fire, more people in inadequate infrastructure you gonna say the same? See: comments this page about the unavailability of service workers. Some vacation towns will be there, others wont. The cities are dieing bullshit is culture warring morons like derpsalot and this board aging into crotchety old fucks


    anyways, here’s some boomer schadenfreude “oh noes! There’s no small housing for us to downsize too!” Say people who e fought small housing forever
    https://www.bostonglobe.com/2022/07/...k-their-homes/
    I'm talking about the current downturn due to rate increase and inventory being flooded because everyone is trying to get theirs. Not some hypothetical downturn in the future.

  7. #22532
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    Quote Originally Posted by Kevo View Post
    Double check your link- the link in that post goes to an article about inventory liquidation.

    I think you were trying to post this-
    A Town's Housing Crisis Exposes a 'House of Cards' https://www.nytimes.com/2022/07/31/u...e-housing.html

    Anyone have a non-subscription link?
    https://www.nytimes.com/2022/07/31/u...smid=url-share

    Not sure if that will need a login, but it shouldn't require a subscription. Well, at least for the first person, no idea how the "gift an article" feature works.

    Sent from my SM-G892A using TGR Forums mobile app

  8. #22533
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    Quote Originally Posted by ötzi View Post
    Skewing them in what direction?

    It's gonna be interesting to see what happens to vacation area real estate when the boomers get serious about dying off.
    interesting because why?
    generation xers don't buy second homes
    millennials don't buy second homes
    and sure enough gen z will be wanting in on the second home market too

    many homes I work in are in a trust or a family llc and the kids are part of the deal so it gets passed down easily

    millennials are now forty years old and I know plenty who own a second home just because the media wants you to think they can't or don't buy homes isn't true

  9. #22534
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    Quote Originally Posted by liv2ski View Post
    Agreed.

    AD, maybe I missed the purchase details, but the rate sounded really high so I ran pricing on a $600k price, 25% down, Non Owner Occ Condo purchase and came up with 5.125% for minimal loan fees, so maybe you should shop around.

    Attachment 422882
    Are these 30 year mortgages? I've talked to three people now and they have been quite a bit more. I'd probably prefer a 15 year if I can swing it (and I think I can). Total amount mortgaged would be around $200k.

    edit: just talked to Rocket on the phone and they told me to get down to 5% on a 15 year would require 3 points, so not sure why those numbers are different.

    One of the people I talked to today is a friend who is in the mortgage business. He said right now they're selling discount points for pretty cheap, so you can reduce the rate by a decent amount without shelling out a ton. He says the reason for that is many lenders feel like rates may drop a bit in the next year or two and that would spark a lot of refi business, so the lenders want to make their money now since many of the loans originating now may end up getting paid off quickly.
    Last edited by The AD; 08-01-2022 at 07:26 PM.

  10. #22535
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    Quote Originally Posted by fastfred View Post
    bailing selling out and walking away with a shit boat of money he did it a few years ago but damnit I'm booked out till next summer with work aint' happen this week
    I'm not sure what a "shit boat" is, but I've def been tempted to sell out and leave.

    Where to go, though? Everywhere that doesn't suck has been discovered and real estate is nuts. All we can do is swap our overvalued houses for other overvalued houses. Where did your friend go?
    ride bikes, climb, ski, travel, cook, work to fund former, repeat.

  11. #22536
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    Quote Originally Posted by fastfred View Post
    interesting because why?
    generation xers don't buy second homes
    millennials don't buy second homes
    and sure enough gen z will be wanting in on the second home market too

    many homes I work in are in a trust or a family llc and the kids are part of the deal so it gets passed down easily

    millennials are now forty years old and I know plenty who own a second home just because the media wants you to think they can't or don't buy homes isn't true
    Homes that are passed down in trusts aren't in the real estate market.

    As far as future values in ski resort areas, in my view it remains to be seen. The younger groups are smaller than the Boomers. When Boomers bought, things were relatively affordable. Climate etc. are factors. Skiing is not as cool and aspirational as it was in the day. Things could go different ways.

    Ya know, interesting. Like we'll see what happens . Interesting.

  12. #22537
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    I know more people that have moved here more for the mountain biking aspect than the skiing aspect in the past ten years (however, most do both).
    Forum Cross Pollinator, gratuitously strident

  13. #22538
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    Quote Originally Posted by climberevan View Post
    I'm not sure what a "shit boat" is, but I've def been tempted to sell out and leave.

    Where to go, though? Everywhere that doesn't suck has been discovered and real estate is nuts. All we can do is swap our overvalued houses for other overvalued houses. Where did your friend go?
    evan when we sit down someday and smoke a blunt and drink a beer I may show you the top secret list until then well it's top secret
    I mean none of my towns have a gangola a fifteen minute walk from the house but I'm kinda over that shit
    there are towns still waiting to be discovered in the mtn/desert west but they are far from the average Outside magazine tool bag list

    and my friend is married so he wasn't allowed to decide where to go after 30 years in summit co so they went to fart collins prolly at the bottom of my list

  14. #22539
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    Quote Originally Posted by ötzi View Post
    Homes that are passed down in trusts aren't in the real estate market.

    As far as future values in ski resort areas, in my view it remains to be seen. The younger groups are smaller than the Boomers. When Boomers bought, things were relatively affordable. Climate etc. are factors. Skiing is not as cool and aspirational as it was in the day. Things could go different ways.

    Ya know, interesting. Like we'll see what happens . Interesting.
    Exactly

    but the demand for mtn town resort living is beyond anything I could imagine right now and its not going away

  15. #22540
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    Quote Originally Posted by climberevan View Post
    I'm not sure what a "shit boat" is, but I've def been tempted to sell out and leave.

    Where to go, though? Everywhere that doesn't suck has been discovered and real estate is nuts. All we can do is swap our overvalued houses for other overvalued houses. Where did your friend go?
    Northern Wisconsin.

    This place is a sportsman’s paradise. I’m loving it here. Selling ski town 1-bedroom condo gets you dentist-level waterfront home. 38 years in Montana and not missing it at all.


    Sent from my iPad using TGR Forums
    "Zee damn fat skis are ruining zee piste !" -Oscar Schevlin

    "Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters

  16. #22541
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    Quote Originally Posted by Toadman View Post
    Nice, and cogent, turn of phrase in that article:
    Resort towns have long grappled with how to house their workers, but in places like Sun Valley those challenges have become a crisis as the chasm widens between those who have two homes and those who have two jobs.

  17. #22542
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    NYT article on Hailey ID and their worker shortage:
    https://www.yahoo.com/news/towns-hou...115727043.html

    ETA: Well, I guess that was already posted. Read it anyway bitches.

  18. #22543
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    Quote Originally Posted by ötzi View Post

    As far as future values in ski resort areas, in my view it remains to be seen. The younger groups are smaller than the Boomers. When Boomers bought, things were relatively affordable. Climate etc. are factors. Skiing is not as cool and aspirational as it was in the day. Things could go different ways.

    Ya know, interesting. Like we'll see what happens . Interesting.
    There are more Millennials than Boomers. It's been a while since I helped a Boomer buy a home in this particular resort market- they're all Xers and Millenials that are buying. Skiing is still cool, but more importantly buyers around here are buying for a week at XMas, but spending much more time in the summer here. They want to escape the heat of wherever home is, look at wildflowers, go hike, go bike.

    At least that's what I see in my market.

  19. #22544
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    Just wait until coastal cities and southern cities are basically uninhabitable due to floods, heat and lack of water. What we are seeing now in the high country is just a warm up.
    Forum Cross Pollinator, gratuitously strident

  20. #22545
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    Quote Originally Posted by dunfree View Post
    anyways, here’s some boomer schadenfreude “oh noes! There’s no small housing for us to downsize too!” Say people who e fought small housing forever
    https://www.bostonglobe.com/2022/07/...k-their-homes/
    JFC. If there ever was a tone-deaf article that belonged in the first-world problems thread this is it.

  21. #22546
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    Quote Originally Posted by rideit View Post
    Just wait until coastal cities and southern cities are basically uninhabitable due to floods, heat and lack of water. What we are seeing now is just a warm up.
    So to speak.

  22. #22547
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    Not done with that Globe article.

    But many older residents in Massachusetts who’d like to downsize — and turn over spacious dwellings to younger buyers desperate for room to expand —are finding it difficult, if not impossible.
    Reeks of 'no one wants to work'.


    Prosnitz is part of a local group called Building a Better Wellesley that advocates for zoning changes to allow single-family homes to add auxiliary dwelling units with their own kitchens and bathrooms, creating another option for downsizing seniors or their adult children. Other suburbs, such as Newton and Arlington, have approved such plans.
    So boomers have another revenue stream? Doesn't do shit for buyers.

  23. #22548
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    Quote Originally Posted by anotherVTskibum View Post
    https://www.nytimes.com/2022/07/31/u...smid=url-share

    Not sure if that will need a login, but it shouldn't require a subscription. Well, at least for the first person, no idea how the "gift an article" feature works.

    Sent from my SM-G892A using TGR Forums mobile app
    That worked, thanks.

  24. #22549
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    Quote Originally Posted by Harry View Post
    Northern Wisconsin.

    This place is a sportsman’s paradise. I’m loving it here. Selling ski town 1-bedroom condo gets you dentist-level waterfront home. 38 years in Montana and not missing it at all.


    Sent from my iPad using TGR Forums
    shoulda never moved to Montana then. It’s a special place, to say you don’t miss it all is very telling. (I grew up in WI and lived in MT too)

  25. #22550
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    I think he meant he's not looking back and I get that. New chapter. Living in the present.

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