Real Estate Crash thread

[skaredshtles]

Until CO jacks up the overall taxes paid there by people

This needs to happen.

[Benny Profane]

Pull your head out of your ass dude. After the donkeys won the Super Bowl Denver and it's suburbs have been on a non stop development binge. Aurora grew by a dozen fold, non existent towns like Erie and Firestone tossed up ticky tacky houses as fast as they could. The whole metro area saw a drop of around 3% between 2009 and 2010 after that it started going up. It's not the 1980's anymore, all the cool places to live have been discovered and have been gentrified and now that working remotely is accepted the smaller towns outside of commuting are next on the development hit list.

You wish. So many WFH white boys in this forum. Good luck with that. Hey, may last for ten years, but, suddenly, when the scalpel is applied by HR in hard times, who is going to be kept. Bob, office politician king, or, Jack,. Say, who's this Jack dude? Dunno, haven't seen him in years. Lives in the mountains, I think. Skis a lot. Oh, really. How nice. Slice.

Here, this was an easy Google. Yeah, Denver had a little bump in 06-07), but nothing like Vegas, Florida, Central Valley, and a ton of other places. Then, bang, zoom, to the moon. So, say, have you or your Denver buddies received raises that compare to that spike? I doubt it. But, keep on telling yourself your little palace is worth what Zillow says.

[mcphee]

HR’s WFH now, dipshit


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[Benny Profane]

What do you mean by that? Did not see hudge increases in the 2006-2008 period? Or saw no crash in 2009? Neither is true, FWIW, it's all local, as in some places crashed and others didn't. Compare the experiences of a homeowner in Longmont and one in Boulder and get back to me. And if you mean we never had a bubble because of no crash, there are numerous posts in here from back then telling us it was coming, so it's revisionist history to look back and say "you guys weren't overpriced" as if it was known then.

As for "living in the hippie clouds", I have no idea what you mean by that, other than it is evidence that you don't have a clue about Boulder, it gave up the hippie thing before I even moved here, and I've been here for over 20 years.

Haha. Last time I was in that walkable downtown, it was homeless hippie central. But the smart hippies with trust funds bought smart in the late 70s/80s and dug a virtual moat around the town with protection nimby zoning and pulled up the bridges. Go live in Longmont, little people!

[Benny Profane]

HR’s WFH now, dipshit


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Well, shit, they'll be so much more comfortable axeing you in their sweats.

[Danno]

Haha. Last time I was in that walkable downtown, it was homeless hippie central. But the smart hippies with trust funds bought smart in the late 70s/80s and dug a virtual moat around the town with protection nimby zoning and pulled up the bridges. Go live in Longmont, little people!

We have all kinds of homeless now, sir, the hippie kind and the meth addict kind! And yes, the "moat" is sort of true. It's part of what makes this town awesome and terrible at the same time.

[mcphee]

So, say, have you or your Denver buddies received raises that compare to that spike? I doubt it. But, keep on telling yourself your little palace is worth what Zillow says.

This is why everyone hates you. You ask a question you don’t know the answer to but have already made up the answer to fit your narrative. Then when you’re inevitably proven wrong, you learn nothing.

[Core Shot]

The WFH that lasts forever are the ones that are measurable.

Call centers. Don’t care if you’re naked. How efficient are your calls and what’s customer survey score.

[Benny Profane]

Until CO jacks up the overall taxes paid there by people, I do not see people going there slowing down. Granted, you can't surf there, but it has everything else I would want, so I get why people want to live there. I really do not see a 2007 type meltdown on home prices, as all the new financing was done primarily for solid Full Doc borrowers, not 7/11 clerks doing a Liar Loan like back in the day.

Yeah, the gov wants zero income tax. Good luck with that. Toll roads and private schools everywhere. And then the WFH kids show up at the EPIC resorts after a four hour traffic jam on 70 and wonder, hey, where are all the lifties and patrol? What, they can't afford to live here? Sheesh. Can't they just tap mom and dad?

[Benny Profane]

This is why everyone hates you. You ask a question you don’t know the answer to but have already made up the answer to fit your narrative. Then when you’re inevitably proven wrong, you learn nothing.

But, but, I don't hate you. I love everybody.

Btw, what the fuck are you talking about?

[mud]

Long term 10, 20, 30 years real estate is going to go up. If you haven't figured that out yet nobody can help you. I've seen it in Brooklyn, Florida, Colorado, Wyoming, fuck even Driggs ID is a hot spot and it's never going down now that the kids can WFH. It will level off and I expect to see that eventually but nothing dramatic like 2008.

[mcphee]

But, but, I don't hate you. I love everybody.

Btw, what the fuck are you talking about?

I quoted you, it’s in the quote, Dip Shit.

[Benny Profane]

Long term 10, 20, 30 years real estate is going to go up. If you haven't figured that out yet nobody can help you. I've seen it in Brooklyn, Florida, Colorado, Wyoming, fuck even Driggs ID is a hot spot and it's never going down now that the kids can WFH.

In the long term, we're all dead.

I knew people here that were underwater for ten years. In their thirties/forties. Stuck. The condo complex I live in is just coming out of the post bubble duldrums, but my apartment still has about 25% more to go just to get back to 06. Now, imagine that kind of hit to your finances in your prime earning years if you bought high and you were young, when the stock markets have seen, what, a 300% plus rise?

[schuss]

lol Benny - try hiring technology people without remote options. Also, this has woken a lot up to "hey, how about I just move these 500 people remote and we save 200k a year on the building and 5 mill on salary as we reset to median US instead of median NYC"
Not to mention plenty of our execs enjoyed working from their vacation homes all summer. Sure, finance and i bankers will be back in the office, but that's just because they pay absurd money to make sure everyone else is as miserable as they are.

[dunfree]

This is why everyone hates you. You ask a question you don’t know the answer to but have already made up the answer to fit your narrative. Then when you’re inevitably proven wrong, you learn nothing.

that behavior describes most people on most fora. Bennys a contrarian douche here, that’s why people get pissy.

fuck it’d be nice to find somewhere in betweeen “real estate is never coming down” “lol, you were wrong about 2020” and permabear bunny,

[Benny Profane]

I quoted you, it’s in the quote, Dip Shit.

You have big anger issues. Are you underwater on a mortgage, or living in somebody's basement?

[Benny Profane]

lol Benny - try hiring technology people without remote options. Also, this has woken a lot up to "hey, how about I just move these 500 people remote and we save 200k a year on the building and 5 mill on salary as we reset to median US instead of median NYC"
Not to mention plenty of our execs enjoyed working from their vacation homes all summer. Sure, finance and i bankers will be back in the office, but that's just because they pay absurd money to make sure everyone else is as miserable as they are.

News flash: Not everyone works in tech, therefore, tech workers do not justify a spiked market

[mud]

You don't have to work in tech to WFH.
Entire industries and departments can WFH now compared to 20 years ago.

[Benny Profane]

that behavior describes most people on most fora. Bennys a contrarian douche here, that’s why people get pissy.

fuck it’d be nice to find somewhere in betweeen “real estate is never coming down” “lol, you were wrong about 2020” and permabear bunny,

I'm not a perma bear. I just marvel at how some believe that buying high is a wise personal financial decision, especially after '08.

[mcphee]

You have big anger issues. Are you underwater on a mortgage, or living in somebody's basement?

Your entire existence is to provoke these responses. You’re really good at it but it’s pretty sad this is how you spend your retirement. So fucking what that I choose to respond to you in anger. Fuck you.

No and no.

[Benny Profane]

You don't have to work in tech to WFH.
Entire industries and departments can WFH now compared to 20 years ago.

Name them.

[schuss]

News flash: Not everyone works in tech, therefore, tech workers do not justify a spiked market

Every company requires it though, and what the fuck does an analyst do but work on a computer and have occasional meetings? It quickly becomes untenable to have different sides have different rules when the workday is the same and there's massive facilities and salary savings possible.
Roles that can 100% wfh:
Contact centers
Analysts
Data scientists
Software devs
Project/program management (non construction)
Professional programs educators
Really most anything that doesn't deliver a physical good.

[dunfree]

I'm not a perma bear. I just marvel at how some believe that buying high is a wise personal financial decision, especially after '08.

And people keep pointing out location matters. I mean, I kinda wish I bought into “high” Seattle back then.

[Benny Profane]

Your entire existence is to provoke these responses. You’re really good at it but it’s pretty sad this is how you spend your retirement. So fucking what that I choose to respond to you in anger. Fuck you.

No and no.

Well, actually, no, I just did thirty miles on the roadie and some early fall gardening, and now I'm going to make a sandwich and a latte. Have a nice day! Go Yanks!

[mud]