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  1. #7551
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    Real Estate Crash thread

    Quote Originally Posted by liv2ski View Post
    Yup. When I saw all the banks roll out the Liar Loans in 2003/04 I closed my mortgage company down, as I didn't want to risk huge buy backs on fraudulent origination's. That never happened, buybacks that is, so I should of stayed open. Instead I went to work for a bank as a wholesale AE. During my interview I told the VP that when all those loans blew up in a few years, I would handle their REOs for them. She gave me a horrified look and said "don't ever say that to anyone at the bank".
    Knowing there was going to be defaults in 03/04 does not equate to knowing Credit Default Swaps were going to help topple the economy. Everyone in the biz writing loans in that time frame saw the defaults. Heck we were putting loans together saving people who were sitting 120 days delinquent and even NODs (notice of default on title). What are the chances those guys were going to pull their head out and not spend their mortgage elsewhere? Never heard of a CDS when I was in the trenches (‘01-‘11) until it was main street news.

  2. #7552
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    ^^yup. Housing was the spark that lit the financial crisis and seems so apparent now, but that spark could have been a regular housing issue if not for hedge funds, banks, pensions, regulators and legislators, ratings agencies, and leverage combined to form the right cocktail.
    Decisions Decisions

  3. #7553
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    Quote Originally Posted by CascadeLuke View Post
    Hahaha dude you need some pussy. What a miserable guy. Every time I see you post it’s bitching and mostly about the PNW.
    Go the fuck home then
    Are dumb or just like to be miserable?
    I just call it the way I see it. The truth hurts. And don't you worry, I'll be making my way out as soon as I'm fully vested in my retirement plan. Can't be leaving money on the table, even in an overrated, overhyped, mildewy shithole.

  4. #7554
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    Nov 2005
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    Quote Originally Posted by fastfred View Post
    mountain town real estate has been driven by the short term rental craze, what is the profit of buying a unit, creating a short term rental, getting to use it and making money
    they have been using this bullshit line for forty years up here, "there is a limited amount of developable land" well that's total bullshit, land swaps with the gov't are all to common, look at the dog shit they are throwing up around keystone
    I dunno, the parks and the FS aren't swapping their land anytime soon.
    Why do you think everyone is moving to Victor and Alpine?
    And why do you think the Dual immersion school is at Hog Island?
    If a land swap were feasable, it would have been done already, IMO.
    Forum Cross Pollinator, gratuitously strident

  5. #7555
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    I can not deny; Seattle is not the same place it was 15+ yrs ago. It’s getting pretty tight up here and the traffic has been bonkers starting about 6 yrs ago. There are always compromises it seems.
    Anyhow keeping sharing your experience and you’ll be doing me a favor if some people second guess and move elsewhere.

  6. #7556
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    My company, which is on the east side, but still “Seattle”, just gave 13 electrical engineers the choice of relocating to Duluth GA (Atlanta exurb) or a severance package. Every single one took the severance. None of them are big time skiers or mountain bikers. They just like living up here with the slugs and snails.
    U.P.: up

  7. #7557
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    Quote Originally Posted by stradissimo View Post
    My company, which is on the east side, but still “Seattle”, just gave 13 electrical engineers the choice of relocating to Duluth GA (Atlanta exurb) or a severance package. Every single one took the severance. None of them are big time skiers or mountain bikers. They just like living up here with the slugs and snails.
    Not to mention the job market here for EEs is jumping I would think

  8. #7558
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    The smell of the sea air is addictive, glade if you grew up in western Washington you might like the gloom and wet a bit more.

  9. #7559
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    Quote Originally Posted by CascadeLuke View Post
    Not to mention the job market here for EEs is jumping I would think
    Surly. They all found jobs, even the over-60-year-olds.
    U.P.: up

  10. #7560
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    Quote Originally Posted by Leavenworth Skier View Post
    The smell of the sea air is addictive, glade if you grew up in western Washington you might like the gloom and wet a bit more.

    This thread is about real estate and not me, but I truly don't mind the clouds and wet weather, it's the fact that the climate here is mind-numbingly temperate. And fuck eastern Washington. You all have managed to convince yourselves that someplace as scenic as Kansas is gorgeous.

    I'm glad people like it though, you all can stay here and enjoy.

  11. #7561
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    people are buying shitty 1985 pimped out linoleum and formica counter top townhomes here for over 700 sq ft still
    it's all about location
    walk down town walk to the lift

  12. #7562
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    I'd buy one in Dillon if the price was realistic.

  13. #7563
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    United States of Aburdistan
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    and fastfred could remodel it for ya!

  14. #7564
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    Quote Originally Posted by glademaster View Post
    This thread is about real estate and not me, but I truly don't mind the clouds and wet weather, it's the fact that the climate here is mind-numbingly temperate. And fuck eastern Washington. You all have managed to convince yourselves that someplace as scenic as Kansas is gorgeous.

    I'm glad people like it though, you all can stay here and enjoy.
    I moved out of state fwiw

  15. #7565
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    the difference between eastern wa & idaho geography is minimal.

  16. #7566
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    Quote Originally Posted by dunfree View Post
    the difference between eastern wa & idaho geography is minimal.
    Thanks captain obvious. While we're at it, northern South Dakota is not much different than southern North Dakota. CA and NV around Lake Tahoe look very similar too. Seems like a lot of places touching each other are more alike than different.

  17. #7567
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    Yes, flat as a pancake, dry sagebrush, cattle feedlots as far as the eye can see.

  18. #7568
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    Quote Originally Posted by Conundrum View Post
    Thanks captain obvious. While we're at it, northern South Dakota is not much different than southern North Dakota. CA and NV around Lake Tahoe look very similar too. Seems like a lot of places touching each other are more alike than different.
    It's been argued here, to me, that eastern Montana is materially different from North Dakota and NoDak is materially different from Western Minnesota. I frankly don't know what is obvious to this circus of assclowns and what isn't and when someones postnig stupid shit that everyone already knows just to sick their own dick like the post Lskier made I responded to and when they aren't. But thanks for jumping down my neck, I can always depend on you to do that, just like jumping down my neck for having the temerity to call CT a shithole.

    Just like I don't get why some people here see network effects/clustering for outdoor recreation (where it's imo, a negative mostly) is the greatest thing ever and you should move to Jackson/SummitCo/wherever the fuck, and those same people don't see network effects/clustering as valuable for making money or finding a spouse or making music things which are way more popular with way more people. But that's the tribal vibe that makes this place so stupid and so toxic so often.

  19. #7569
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    Quote Originally Posted by Bromontane View Post
    don't forget to throw in a few extra bucks for life coaching
    One stop shopping just got my life coach degree

    Sent from my SM-J737V using TGR Forums mobile app

  20. #7570
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    Is dunfree cracking?

  21. #7571
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    Quote Originally Posted by glademaster View Post
    As someone who has lived in/around both, I would live in the greater SLC area over greater Seattle every day of the week and twice on Sunday. Western Washington blows. Shit weather(and FTR, it isn't the rain that bothers me, it's that there aren't any fucking seasons out here. Three weeks of high pressure doesn't constitute summer, just like 6 months of 50 degrees and drizzly isn't winter by any sane definition. The weather is damn near the same year round; it never gets hot, it never gets cold, it's fucking garbage), criminally overcrowded, regressive state taxes, entitled, aloof residents, shitty drivers, the list goes on.

    As far as day-to-day livability goes, it's neck and neck with New Jersey. Congestion is rapidly making this area unlivable, and I have a 4 mile commute. Despite hellish, human-choked reality which confronts everyone who lives here anytime they venture outside the confines of their homes, every planner and city council member across the region is lining up to give a nice sloppy rimjob to any developer who wants to shoehorn more housing into a region that is already critically exceeded its human carrying capacity.

    "Growth for the sake of growth is the ideology of cancer," and western Washington has a terminal case.
    It's everywhere, not just Seattle. I left there over 2 years ago after 20 years. It has changed a lot since then. But guess what, 20 years earlier it was changing, and 20 years before that. So has every single metro area. When you get back to SLC, it will have changed too. And it will continue to grow and change. But they have the best snow on Earth, so at least there's that.

    And for those that think it's the millenials or gen Z moving to mtn towns, um, no. It's boomers. Lots and lots of retiring boomers....with crap tons of cash. At least the ones I see here in Bend. They are of course driving Tesla's. I thought the East side of Seattle was electric car city. But I see tons of electric cars down here, and of course the Porsche Cayenne and Macan's and the fricking Range Rovers and more Audi Q whatever's than just about anything else. To be sure, there are lots of rednecks and their lifted trucks and monster M/T's that hardly ever see a dirt road except to park at the local parking lot at the hiking/biking trails. Subarus? Please! Those are for the hippies who never stopped smoking dope and never really had a white collar job.

    The developers have their hands in the pockets of every single city council member out West. Probably out East, Mid-west and every direction in between. But it sounds like you are close to quitting your day job. Winter is around the corner, and you can at least ski some Cascade concrete. Or not. All the best.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  22. #7572
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    Quote Originally Posted by stradissimo View Post
    My company, which is on the east side, but still “Seattle”, just gave 13 electrical engineers the choice of relocating to Duluth GA (Atlanta exurb) or a severance package. Every single one took the severance. None of them are big time skiers or mountain bikers. They just like living up here with the slugs and snails.
    Not exactly a ringing endorsement given how shitty life in the Atlanta exurbs would be, at least to me. I fucking hate Atlanta. Most people who say they live in Atlanta don't even get to Atlanta more than a few times per year. They spend their lives in interminable traffic going from the suburb where they live to the suburb where they work to another suburb where their kids attend school to another suburb where their kids play soccer...all of which are 40 miles and a 3 hour drive to downtown Atlanta.

  23. #7573
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    Quote Originally Posted by Mr. Mike View Post
    Not exactly a ringing endorsement given how shitty life in the Atlanta exurbs would be, at least to me. I fucking hate Atlanta. Most people who say they live in Atlanta don't even get to Atlanta more than a few times per year. They spend their lives in interminable traffic going from the suburb where they live to the suburb where they work to another suburb where their kids attend school to another suburb where their kids play soccer...all of which are 40 miles and a 3 hour drive to downtown Atlanta.

    You just described the Seattle Metro area as well. You never actually get where you're going out here, you get asymptotically closer to your destination as traffic gets worse and worse, and you either keel over from an aneurysm behind the wheel or say "fuck it, I'm going home, I'll order it online." And even if you don't drive, you're still making matters worse by supporting tech companies who haven't done a goddamn thing to make our lives better, despite blowing smoke up our asses constantly to that effect.

    Nowhere is perfect, but some areas as less perfect than others.

  24. #7574
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    It's funny to hear complaints about Seattle traffic and how it's gotten terrible the last few years. I lived there for 2 years, over 25 years ago, and the traffic was awful then.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy

  25. #7575
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    Quote Originally Posted by glademaster View Post
    You just described the Seattle Metro area as well.
    He's described pretty much every major metro area in the US.

    and they all have shitty traffic in some way or another.

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