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Thread: Real Estate Crash thread
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03-25-2022, 08:51 AM #20851
Breck has been a berry berry good investment, but, jezuz, can it go further than that? It ain't Aspen.
Then again, I skied Windham last week in the Catskills, and there's houses like that trailside. It's a thing.
Twenty year old beat up car is weird. But, maybe she doesn't have the time or energy to car shop after pouring over appliance catalogs.
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03-25-2022, 08:52 AM #20852
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03-25-2022, 09:04 AM #20853Registered User
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Sometimes a car just fits you really, really well and you dont see a reason to change it out. Kinda like the big shots with the swanky offices and old, beat up leather office chairs. I do work with a developer who drives a mid 2000s SUV and is almost certainly worth 9 figures. Plus, you can park/drive a beater anywhere without drawing attention which is really nice for folks who are big shots, but dont want to deal with the attention or attitudes they would get in a nicer vehicle. Or, maybe she likes the reminder of where she came from before the money started coming in.
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03-25-2022, 09:19 AM #20854Registered User
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vail is over rated truck stop
morning star, bachelor gulch, and cordillera are nice neighbor hoods in eagle county
aspen is international ultra billion dollar wealth and porn stars
telluride is pricey and remote
cb is a pretend small western town that is pretend down to earth that has really been ruined by mid level wealth
so yeah that leaves breckenridge you can hang out here not draw any attention to yourself and do what you want which works out well for some people
the money is pouring in left and right
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03-25-2022, 09:19 AM #20855
Yeah, a couple of my old landlords were basically rich, but, you sure couldn't tell it from appearances. One guy drove and old 80s Caprice wagon stuffed with crap. Nice guy. He actually gave me Xmas presents. But we're talking about modern status mongers here, right? Why else would someone build a 200 grand kitchen, other than to walk other women through and watch the envy? I doubt they even cook. So, where's the new Lexus?
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03-25-2022, 09:26 AM #20856
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03-25-2022, 09:46 AM #20857
Most people I know who manage their money well drive old cars. Lexus and Toyota keep their value well.
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03-25-2022, 09:48 AM #20858
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03-25-2022, 09:49 AM #20859
Dirt pimp says buying dirt is all time.
https://finance.yahoo.com/news/three...153102361.html
In a new interview, real estate guru and "Shark Tank" panelist Barbara Corcoran hailed the current housing market as the best real estate investment opportunity of her lifetime."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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03-25-2022, 10:07 AM #20860
Talking her book, selling at the peak behind the TV screen, I'll bet.
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03-25-2022, 10:10 AM #20861
Well, on second thought, makes sense. Sink your money into an appreciating asset, avoid wasting it on depreciating assets. There's a reason she's wealthy.
The world is upside down. Multi million dollar Breck homeowners drive old cars, bartenders and cube jockeys with negative net worth drive 80,000 dollar pickup trucks.
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03-25-2022, 10:15 AM #20862
Time for my favorite ski RE story, again.
I was riding the lift at Big Sky, somewhere all the way over in Moonlight Basin, and I admired a nice new house, not too big, but probably easily a few million, slopeside. My chair mate, a young snowboarder, proceeded to tell me a story about his bud who worked in property management in Vail. One day his bud had to get into one of these homes, gets the number and calls the owner. The guy doesn't even put the phone down and shouts, "Honey, do we have a house in Vail?"
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03-25-2022, 10:18 AM #20863
It’s not upside down. It’s the system we know working as it should. Its a tale as old as marketing. You don’t make billions in profits marketing and selling only to the wealthy.
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03-25-2022, 12:24 PM #20864Registered User
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have another client just getting the ball moving for 2023 project
talking numbers and costs and she was kinda blown away
she has two properties right now and wants another one
the architect tells her to sell her townhome to free up some cash
she says, "yeah that was a total mistake, I forgot I put an offer on that place and my offer was accepted so I figured I had to buy it."
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03-25-2022, 12:26 PM #20865
Yes. The baristas spend too much on shit.
And also yes. But real estate isn’t necessarily appreciating. It’s just that everything including real estate is inflating.
Money is rent seeking to keep value from inflation these days.
In locations they and other rich people hang out.
It’s hard to build here for less than $300 a foot.
So to build 3k sq ft is $900k?
It’s fucked.. . .
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03-25-2022, 01:46 PM #20866
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03-25-2022, 02:51 PM #20867Registered User
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Conversation starts at $500 sq. $450 sq ft was so 2021.
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03-25-2022, 03:09 PM #20868
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03-25-2022, 04:41 PM #20869Originally Posted by blurred
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03-25-2022, 04:55 PM #20870
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03-25-2022, 06:41 PM #20871Registered User
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Contract signings dropped by 4.1% last month from January and were down 5.4% year over year with all four regions in the U.S. seeing a decline, according to the latest data from the National Association of
"Pending transactions diminished in February mainly due to the low number of homes for sale," said Lawrence Yun, NAR’s chief economist. "Buyer demand is still intense, but it’s as simple as ‘one cannot buy what is not for sale.’
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03-25-2022, 06:44 PM #20872Registered User
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03-25-2022, 06:47 PM #20873
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03-25-2022, 09:01 PM #20874
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03-25-2022, 11:53 PM #20875
Wow you can barely build a garage in Tahoe for that price. It's like Monopoly money up here. Completing the project is the hard part right now with so many shortages of materials and labor. Many people don't care about the cost they just want it done. This ride is far from over.
4 Time Balboa Open Champion
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