Real Estate Crash thread

**RootSkier** · 01-11-2021, 05:40 PM

Originally Posted by sirbumpsalot

So you are calling me racist.

No, I'm saying you like single-family housing for the SAME reason that single-family housing has its genesis in racism: because you think people who live in single family homes are better than people who live in apartments.

**Skistack** · 01-11-2021, 10:00 PM

Originally Posted by montanaskier

“Affordable housing” is always a hot topic here in Vail and every other mountain town. I question what that means. What’s affordable? If you are from Alabama or Iowa or Arkansas, affordable is a lot different than here in Vail or downtown San Fran. It’s never going to be truly affordable. These areas are so limited by the available dirt and that dirt isn’t cheap and it’s never going to be cheap. But can we do somethings government wise to make some things more affordable than normal? Yes, but due to lack of dirt, it’s always going to be an issue.

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Housing agencies usually define “affordable housing” as rents set at 30% of income at 60% of local median income. So obviously a big difference between SF and bumfuck Alabama.

Affordable housing developers use federal low income housing tax credits, property tax abatements and grants/loans from local/state agencies to develop properties that can cash flow at the reduced rent level.

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**Conundrum** · 01-11-2021, 10:18 PM

How about a vasectomy tax credit? Not a short term solution but I’m more of a long game idealist.

**shroom** · 01-11-2021, 10:22 PM

it’s interesring we approach that the opposite way

**Conundrum** · 01-11-2021, 10:35 PM

Originally Posted by shroom

it’s interesring we approach that the opposite way

Pyramid schemes are hard to keep going if nobody replaces themselves but really off topic for a real estate thread.

**RootSkier** · 01-11-2021, 10:50 PM

V for victory, tax credit or not.

**54-46** · 01-12-2021, 08:12 AM

Originally Posted by Toadman

You are missing out on life dude! You haven't lived until you have owned and driven a $40k auto! And, I'm not going to go into the heli-ski thing, because it's not always blower pow and face shots.

But, good on you for being a super saver. I know a few that are like you and the Mrs. However, they do splurge from time to time. (First Class trips pre-COVID to Europe and New Zealand, Audi S6, 7 figure house a block from the SoCal beach.) But they also make WAY, WAAAAY more than $75k per year per couple.

But my question for you is, do you rent skis or buy and hold on to them for 10 years?

Been able to get around a bit - was in Hokkaido with my kid last year right before they shut it down for Covid...

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**54-46** · 01-14-2021, 07:25 AM

Anyone on this thread in Missoula? Have a cousin there in RE.

**Iowagriz** · 01-14-2021, 07:35 AM

I am in Missoula. Been back here since June 2019. Been making trips here for family once or twice a year for the last 25, when we last owned here.

Place is going nuts, before we built our place, i was searching and the $200-400k range is really tough to find much that isn't going to need work to get it into the modern era. MIL place sold without getting listed, Agent friend knocked on the door. She got what I thought was a very fair price without hassle and at a much lower fee price. She was able to get into a 2bed condo type place for around $220k and pocket the rest.

City has major project to expand to the west of town. Essentially fill-in to the airport. Probably a 10-15yr plan (my guess). Should have good mix of density, sizes and types of housing. Roads will get improved in that area as well, which is much needed.

**liv2ski** · 01-14-2021, 02:48 PM

I was watching a show the other day (House hunters). The people were looking in Missoula and I was like "What? The maggots say that place is built up?" Looked like Heaven to me. No wonder all the SoCal bros are moving there after living in urban sprawl their whole life.

**Toadman** · 01-14-2021, 03:15 PM

Originally Posted by liv2ski

I was watching a show the other day (House hunters). The people were looking in Missoula and I was like "What? The maggots say that place is built up?" Looked like Heaven to me. No wonder all the SoCal bros are moving there after living in urban sprawl their whole life.

It's amazing listening to a city dweller get all wide eyed and slack jawed when they see a house on a 1/4 acre lot, and says, "Damn, that's a lot of grass to mow."

**liv2ski** · 01-14-2021, 03:59 PM

Right? I would love to have an acre where I live, but at about $2M for a 100X100 foot lot, that isn't happening anytime soon.

**RootSkier** · 01-14-2021, 03:59 PM

Originally Posted by liv2ski

I was watching a show the other day (House hunters). The people were looking in Missoula and I was like "What? The maggots say that place is built up?" Looked like Heaven to me. No wonder all the SoCal bros are moving there after living in urban sprawl their whole life.

Hope they like inversions and all-around shitty weather for 5-6 months of the year. And that's not even counting fire season, where Missoula gets fiercely socked-in for weeks at a time.

**liv2ski** · 01-14-2021, 04:04 PM

Originally Posted by RootSkier

Hope they like inversions and all-around shitty weather for 5-6 months of the year. And that's not even counting fire season, where Missoula gets fiercely socked-in for weeks at a time.

I doubt they even checked the weather before moving after their mid July visit 2 years ago.

**Mazderati** · 01-14-2021, 04:21 PM

Originally Posted by liv2ski

I was watching a show the other day (House hunters).

He bakes cookies and she's a butterfly farmer? Budget $1.5M?

**muted** · 01-14-2021, 04:31 PM

I heard a pretty good industry story on a house hunting show the other day. A couple in a show looked at three houses, they ended up picking the one they already owned and lived in. Obviously the audience wasn't told this.

**John_B** · 01-14-2021, 04:53 PM

Originally Posted by muted

I heard a pretty good industry story on a house hunting show the other day. A couple in a show looked at three houses, they ended up picking the one they already owned and lived in. Obviously the audience wasn't told this.

I had some friends on it and my MIL was the realtor showing them property. The "house hunters" already owned the one they picked and the other houses shown were currently on the market. The entire show was filmed in one week.

**The AD** · 01-14-2021, 05:25 PM

Originally Posted by John_B

I had some friends on it and my MIL was the realtor showing them property. The "house hunters" already owned the one they picked and the other houses shown were currently on the market. The entire show was filmed in one week.

My sister and her husband were on one of those shows (House Hunters International, I think) and that's what they did, too. They actually already owned the condo they decided to "buy" for the show. Also the story was that they wanted to move to Mexico, but in reality the condo was always purely used for rental revenue for them. So, surprise, surprise, it's all bullshit.

**babybear** · 01-14-2021, 09:40 PM

I know it’s fake but it’s still sorta real.
I enjoy seeing homes in other regions regardless

**OphirPow** · 01-14-2021, 09:48 PM

⚽️

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**yeahman** · 01-14-2021, 10:13 PM

Originally Posted by babybear

I know it’s fake but it’s still sorta real.
I enjoy seeing homes in other regions regardless

Yeah I like that too. It's not necessarily "fake," they kinda need to do it with a house the people just bought rather than houses they are looking at because the way real estate transactions work doesn't really fit with how they have to film it. I just like looking at the houses and trying to read the clues about which one they are going to pick, based on how they try to throw you off track. Good mindless entertainment.

**The AD** · 01-14-2021, 10:35 PM

I've also heard the show producers decide whether the couple on "Love It or List It" love it or, um, list it.

**schuss** · 01-15-2021, 07:18 AM

Originally Posted by The AD

My sister and her husband were on one of those shows (House Hunters International, I think) and that's what they did, too. They actually already owned the condo they decided to "buy" for the show. Also the story was that they wanted to move to Mexico, but in reality the condo was always purely used for rental revenue for them. So, surprise, surprise, it's all bullshit.

Yep, typically it's one they've already bought as well as some from people they know that aren't actually on the market. Friends son went on it, the other two "potential" houses were their friends.

**Name Redacted** · 01-15-2021, 08:10 AM

We were stuck inside over a holiday with shitty weather a few years ago and went on a HGTV binge and drank all day. The drinking game was any time they said "Open Concept" take a drink. Every time they took out a wall, take a shot. We got pretty drunk. The end/

**spanky** · 01-15-2021, 08:37 AM

Originally Posted by Name Redacted

We were stuck inside over a holiday with shitty weather a few years ago and went on a HGTV binge and drank all day. The drinking game was any time they said "Open Concept" take a drink. Every time they took out a wall, take a shot. We got pretty drunk after two shows. The end/

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