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  1. #11426
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    Real Estate Crash thread

    Quote Originally Posted by glademaster View Post
    Until they deal with a major injury/illness/life getting in the way to the point that they can't do those expensive, time consuming activities, and then they're over-leveraged in bumfuck nowhere with high quality healthcare facilities/hospitals hours away, their kids going to school with white trash and their neighbors making meth in the shed out back.
    Their house will be worth plenty by then. Lol

    We had good health care and natural gas when it was mostly hicks too.

  2. #11427
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    Quote Originally Posted by glademaster View Post
    No natural gas where my folks live, they have a 1000 gallon propane tank that runs their generator. Running the generator for a week puts a big dent in that tank.
    Northern Westchester is brutal for electrical service interruptions. It was almost mandatory to have a generator. I would only run mine intermittently to conserve fuel and run time. Propane generators require constant attention and during a widespread outage demand for parts and repairs far outstrip availability.

  3. #11428
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    Quote Originally Posted by Benny Profane View Post
    Oh, it's not that bad. The six years I lived in a "cottage" in northern Westchester I was out 30 days or so. They like their trees, and all the lines are up in them. Everybody has generators, and they aren't that expensive to run. Direct natural gas feed.
    Commercial buildings get priority repair. That's why I like where I live sometimes. Right next to the supermarket.
    A house sized generac will burn 2-3 gallons of propane per hour. 3 Tesla power walls suddenly look like a bargain in comparison over a 10 year period with time of day rate changes.

  4. #11429
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    Quote Originally Posted by neufox47 View Post
    A house sized generac will burn 2-3 gallons of propane per hour. 3 Tesla power walls suddenly look like a bargain in comparison over a 10 year period with time of day rate changes.
    Yup. The one my folks have is sized to run most of their house and at this point is about 25 years old (was installed when they bought the house in ~2003) and it will go through 75-100 gallons or propane per day if they run it non-stop. With extended power outages they usually shut it off when they go to bed and fire it up again in the morning, but a week without power is still going to use AT LEAST 300-400 gallons of propane. That adds up.
    "Hakuna matata, motherfucker!"

  5. #11430
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    Oct 2003
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    Quote Originally Posted by muted View Post
    One western water battle just popped up recently: Moab might reconsider new expansion after realizing they don't have as much water as they thought. But i believe a new development 5 miles south in Spanish Valley is already approved and will double the population of the entire county. Whoops.

    https://www.kuer.org/health-science-...r-conservation
    "Heilweil said he and his colleagues recommended the city begin monitoring the outflow of the springs, which supply Moab’s drinking water, in order to determine exactly how much water is coming out of the aquifer. Using that data, they suggested the city create a numerical model that can be used to simulate the effects of additional pumping. That, Heilweil said, would allow the city to better understand the effects of future development."


    File under: Things that should have been happening for the last 20 years

  6. #11431
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    Hydraulic modeling paid for buy the entities that can benefit from having more paper water to sell is one of the most transparent jokes in development. It goes something like this:

    "If we skew all the supply assumptions on the high side and all the consumption assumptions on the low side and you write us a really big check for some Jr. High level excel deliverables, you can sell water water taps. There is really no downside."

  7. #11432
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    Oct 2005
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    As Benny pointed out, Boise is fucking crazy. I've said that a number of times over the last year or two in this thread but it keeps going up. Irritating to say the least. I'm fine. I bought a quaint house downtown about 20 years ago but most of the reasons I stayed here after school are pretty much gone unless you like crowds, a lot of people, all the time. It's sad to see people who grew up here who will never be able to have their own house until their parents die. And that's still a maybe. Rentals, also fucked. I was talking to a buddy in the medical field and they are hiring people at $150k salary fresh out of school who are buying RVs and living in them until they can get a down payment saved up. Personally, doesn't seem like a winning strategy when you're competing against cash offers. There are the outlying communities that you may find something in the $4-500k range but that will come with a 30-60 minute drive to work. We've done it. We've become the place long time locals want to move away from. Sorry to all you small towns that liked being small towns.

    According to Zillow, there is not a house or condo for sale under $600k within a one mile radius of me. I'm talking including tear downs. There is one .25 acre lot with a view for $500k. Madness.

    I'm hoping for a bust but word around town is it's going to be awhile. And it's not just dirt pimps saying it. Everybody is saying it. Fingers crossed...

  8. #11433
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    $900+/square foot in Bozeman is absurd, although I'm just posting it here to break Benny's brain
    Last edited by kathleenturneroverdrive; 02-25-2021 at 03:49 PM.

  9. #11434
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    looking for a new location to live in the town I like isn't in forbes places to retire or best town to be a yuppie outdoorsy person in
    my price point is 180 - 220 sq ft with plenty of places to choose from all in need to be pimped out of course
    winning

  10. #11435
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    Quote Originally Posted by kathleenturneroverdrive View Post
    $900+/square foot in Bozeman is absurd, although I'm just posting it here to break Benny's brain
    That colorful blanket (that you can see from everywhere in the entire house) really ties the house together.

    That place really makes the newest high-end condo development in Missoula look like a steal though, just $949k for a 2 bd with 1600 square feet. https://www.trulia.com/p/mt/missoula...01--2521689466

  11. #11436
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    Quote Originally Posted by kathleenturneroverdrive View Post
    $900+/square foot in Bozeman is absurd, although I'm just posting it here to break Benny's brain
    Succeeded. Brain broke.

    Let's do some livin'
    After, we die

  12. #11437
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    Same here Benny. I mean, I get why our prices skyrocketed, but that's something else entirely. The next-door property is for sale for around the same price too. I would guess it's the same owner, putting both up for sale in hopes someone will take them both, scrape, and build.

    I'd personally rather just get that condo in Missoula. At least it's walking distance to good ice cream. That has to be worth at least a few hundred grand, right?

  13. #11438
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    It is taking place in a world that just doubled the value of Gamestock yesterday, after all the bullshit around that company for a few weeks. And then, well, bitcoin.

    Let's do some livin'
    After, we die

  14. #11439
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    I posted this awhile back hoping to get some Bozeman feedback.
    https://www.zillow.com/homedetails/1...4929657_zpid/?
    My son bought it around 4 years ago and sold it for about twice what he paid. I think his realtor sucked. Had no idea of comparables. It is one block off main street and next to a mixed use million dollar condo building. The lot is also zoned commercial. Will be curious on what those houses sell for. The buyer was going to renovate into a short term rental.
    off your knees Louie

  15. #11440
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    Quote Originally Posted by kathleenturneroverdrive View Post
    $900+/square foot in Bozeman is absurd, although I'm just posting it here to break Benny's brain
    Let me guess, the landlord bought each place for $75-120,000 about 20-30 years ago, rented them out for starting at maybe $350-$500 a month and now they go for about $1500-$1900 a month. Hasn't spent much on upgrades over the years. And today he's selling them for a total of a million plus.

    Damn. Good for him. Who knows how long he/she really owned them but my scenario is possible.

  16. #11441
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    Quote Originally Posted by muted View Post
    Let me guess, the landlord bought each place for $75-120,000 about 20-30 years ago, rented them out for starting at maybe $350-$500 a month and now they go for about $1500-$1900 a month. Hasn't spent much on upgrades over the years. And today he's selling them for a total of a million plus.

    Damn. Good for him. Who knows how long he/she really owned them but my scenario is possible.
    Stayed at a friend's of a friend condo on the west side of Tahoe 2-3 years ago with both those dudes. Couple thousandish square feet, view of the water from the deck, access to their association dock but across the road, purchased in mid-80s for $60k. Really nice guy. Told me given the option, he'd sell it when he couldn't ski anymore, and maybe leave some of the proceeds in the will for his kids, maybe. Apparently they don't like skiing.

  17. #11442
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    On a genuine ol' fashioned authentic steam powered aereoplane
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    I shudder to think about the investment properties here I couldn't convince family members to buy as recent as 2015 that are now through the roof.

    Same thing in Boulder CO. Tried to convince my dad to buy 3 rentals in 2008. Even as a "dumb college kid" I knew that those properties would be like printing cash. Nope. Pass.

    Who wants free money, right?

  18. #11443
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    the youth can pay for everything and like it

    i would like to take a loan against earned SS funds for my 900k starter home mr president

  19. #11444
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    Quote Originally Posted by Whiteroom_Guardian View Post
    I shudder to think about the investment properties here I couldn't convince family members to buy as recent as 2015 that are now through the roof.

    Same thing in Boulder CO. Tried to convince my dad to buy 3 rentals in 2008. Even as a "dumb college kid" I knew that those properties would be like printing cash. Nope. Pass.

    Who wants free money, right?
    My parents chose not to buy a place when I was living in Boulder around 2000. The house I sold when I divorced sold for nearly double what we paid here. 2014 to 2019/2020. Whoops.

  20. #11445
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    Ha. I've built way too many of those high end condos in the background of the 500k houses. Like I said 500k on maybe 1/4 acre lot "tear downs".

    Also I'm pretty sure muted is spot on ime. I could go on but RIP.

    Sent from my SAMSUNG-SM-G930A using TGR Forums mobile app

  21. #11446
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    Quote Originally Posted by Whiteroom_Guardian View Post
    I shudder to think about the investment properties here I couldn't convince family members to buy as recent as 2015 that are now through the roof.

    Same thing in Boulder CO. Tried to convince my dad to buy 3 rentals in 2008. Even as a "dumb college kid" I knew that those properties would be like printing cash. Nope. Pass.

    Who wants free money, right?
    you can pretend you had some crystal ball but no one knew shit

  22. #11447
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    Quote Originally Posted by fastfred View Post
    you can pretend you had some crystal ball but no one knew shit
    Actually if you like something well enough that isn't outlandish and have the resources typically a purchase pays off; some sooner than others. Convincing others that a purchase will pay off is exceedingly difficult, especially after the world's monetary system barely survives as in 2008.

    In my case we bought in an area that hadn't recovered in 2015 so we have done ok, of course not as well if I had the $$ in 1980 when it was readily apparent that it was going to be a great moneymaker eventually.

  23. #11448
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    Benny lives in a shithole called CT and housing prices have sucked there as the old rich Fucks have moved to Florida to avoid taxes. Look at the TRUMP condo values. Down like a rock......

    This virus has breathed some life into the CT market.

  24. #11449
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    Quote Originally Posted by fastfred View Post
    you can pretend you had some crystal ball but no one knew shit
    Exactly. I've hung out on porches across the street from kathleen's bozeman property link, I know people who live a block down from there, I've lived in rentals downtown Bozeman not far away but on the other side of Main, and many of them were old fixer-uppers that cost a small fortune to heat and are dated. One rental I lived in I could see headlights shine through the walls faintly as I tried to fall asleep in my sleeping bag with a ski hat on every winter night. None of us were thinking, man, we need to invest in these shitholes before they are worth 3-5x what we pay for them. A few of us bought houses that were nice though but still we were not clairvoyant or hardcore investors. (We were not all broke ski bums forever, not trying to be 'core' here.)

    I think earlier Brock was saying essentially "the west is growing, of course' but it's not exactly that simple. There is this huge Great Digital Migration that you can't grasp as a local as it slowly creeps into your local ski town for years, until it's too late. In 2005 I moved from Bozeman because I couldn't make a living in my career at the time. Way back then I couldn't even figure out who could afford a house in town as prices skyrocketed. Where were these people working? Who are these people? Who is moving here that barely skis that want to put up with these miserable winters? And who is investing and building all these new buildings? Only a few places paid well in town, I couldn't figure it out. And now those expensive prices in 2005 are a frickin' bargain. (There was a big crash in 2007 there, yes, even more of a bargain at that point. Even reasonable I would say.)

    Now it's obvious what we should have done. It wasn't then, at least to me.

  25. #11450
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    Quote Originally Posted by kathleenturneroverdrive View Post
    $900+/square foot in Bozeman is absurd, although I'm just posting it here to break Benny's brain
    Damn, that makes living is a shithole city like NYC, LA, CHI or SFO, SEA look more and more appealing! Culture!
    "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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