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  1. #14401
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    Feb 2008
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    Quote Originally Posted by Buster Highmen View Post
    rantative
    Ha, that's a good one. Lotta those around when it comes to housing, the economy, or homelessness.

  2. #14402
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    Mar 2006
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    Name:  housing.jpeg
Views: 333
Size:  50.4 KB

    “The ‘housing boom’ story looks set to take another knock .. thanks to a combination of
    fading Covid fear — the impulse to bolt for the suburbs presumably is now fading fast—higher mortgage rates, and still-tight lending standards.”

  3. #14403
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    Aug 2007
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    4matic, you close the sale of your place yet? If yes, your renting or buying next?
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  4. #14404
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    Mar 2006
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    17,565
    Quote Originally Posted by liv2ski View Post
    4matic, you close the sale of your place yet? If yes, your renting or buying next?
    Yes. Living with gf and so far so good. She owed me the reciprocity. Standing aside till there is at least some stability and taking advice from realtor about seasonal slowdown in July.

    A belligerent buyer caused sale to fall through last summer but it also netted me an additional 10% by waiting. Although, I was in contract to buy in Reno but had to back out because I didn’t want to get stuck with two mortgages. In retrospect, it would have been the right thing to do because I had a great deal. Now, Reno, imo, is overpriced compared to what I can do in California with Prop 19. With Prop 19 I don’t mind overpaying somewhat but I’m also not desperate to own.

  5. #14405
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    Mar 2006
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    17,565

    Real Estate Crash thread

    Probably at the Yellowstone club. My company execs had dual offices in Jackson Hole. Twin jets:

    “Snowflake goes remote and relocates executive office from California to Bozeman, Montana”

  6. #14406
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    14,208
    Good info on why this market is not like 2007 and why the "wait and see" buyers probably aren't gonna catch deals anytime soon. They will just end up paying more than if they purchase now. The rate of price increase will probably slow, but but that doesn't mean prices are going backwards. Especially for the kinds of houses people on a ski message board want to buy. The few deals that pop up will most likely be in crappy towns for crappy houses and won't help the highly qualified buyers of today looking for nicer houses in or near the growing hip towns.


  7. #14407
    Join Date
    Dec 2009
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    The Mayonnaisium
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    8,491
    The energy spent pitching prospective buyers on higher prices might be better spent convincing current owners to sell.

  8. #14408
    Join Date
    May 2008
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    On a genuine ol' fashioned authentic steam powered aereoplane
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    14,208
    Quote Originally Posted by Mazderati View Post
    The energy spent pitching prospective buyers on higher prices might be better spent convincing current owners to sell.
    True, but you have to not only convince these people to sell (and make a boatload of money in the process) but you pretty much have to convince them to move somewhere that is not as great as where they live now. That being said it's happening.

    I have a friend who is selling her house and moving from here to NC. She doesn't seem particularly excited about the move, but to be able to turn down several hundred thousand cash equity gained in just a few years well....can't blame them.

  9. #14409
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    Dec 2016
    Location
    In a van... down by the river
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    Quote Originally Posted by Whiteroom_Guardian View Post
    True, but you have to not only convince these people to sell (and make a boatload of money in the process) but you pretty much have to convince them to move somewhere that is not as great as where they live now. That being said it's happening.

    I have a friend who is selling her house and moving from here to NC. She doesn't seem particularly excited about the move, but to be able to turn down several hundred thousand cash equity gained in just a few years well....can't blame them.
    NC? FTS.

  10. #14410
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    Jan 2014
    Posts
    513
    Quote Originally Posted by Whiteroom_Guardian View Post
    True, but you have to not only convince these people to sell (and make a boatload of money in the process) but you pretty much have to convince them to move somewhere that is not as great as where they live now. That being said it's happening.

    I have a friend who is selling her house and moving from here to NC. She doesn't seem particularly excited about the move, but to be able to turn down several hundred thousand cash equity gained in just a few years well....can't blame them.
    I mean this is the big picture in a nutshell no? A huge redistribution of wealth with the small guy getting crushed even more than before

  11. #14411
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    Apr 2006
    Location
    Movin' On
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    2,857
    That snowflake headline is big news.

  12. #14412
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    Mar 2006
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    When commodity prices normalize new home builders will expand lot development where they have it. Supply will come when prices stabilize and time on market increases as pent up sellers fomo. Median price might continue to rise but bidding war froth will wane.

    New home builders have to sell homes to satisfy Wall Street. The XHB was recently down 10% from its high.

  13. #14413
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    Oct 2007
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    10,121
    This shit is so weird.

  14. #14414
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    Aug 2020
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    550
    Quote Originally Posted by Kevo View Post
    That snowflake headline is big news.
    ?

  15. #14415
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    Mar 2006
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    Quote Originally Posted by Kevo View Post
    That snowflake headline is big news.
    He was already there. SEC required it but it does make a statement

  16. #14416
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    Mar 2006
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    17,565
    Lumber futures tried to fill the gap and failed. It’s been up and down limit in the same day. That’s not extraordinary in thin futures. Lumber has backwardation of 30% less than a year out.

  17. #14417
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    Oct 2007
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    10,121
    Quote Originally Posted by Whiteroom_Guardian View Post
    I have a friend who is selling her house and moving from here to NC. She doesn't seem particularly excited about the move, but to be able to turn down several hundred thousand cash equity gained in just a few years well....can't blame them.
    We have some neighbors who cashed out last year and moved to Asheville NC. Made a pretty good 50%+ profit on the house. Got there and realized that it sucked. So now they are trying to move back and can’t afford it.

  18. #14418
    Join Date
    Nov 2010
    Location
    Montrose, CO
    Posts
    3,345
    I recently joined an MTB/social facebook group here in Montrose to try and meet some new people. Almost everyone has the same story- moved within the last few years from (whatever ski town) because it's more affordable (sort of) and good enough. Guess I'm not the only one thinking that way.

  19. #14419
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    Dec 2009
    Posts
    982
    Missoula TV news last night. Median home prices in Missoula:
    2001 - $138k
    2011 - $205k
    2020 - $350k
    2021 - $420k (end of Q1)

  20. #14420
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    Aug 2007
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    Quote Originally Posted by Name Redacted View Post
    We have some neighbors who cashed out last year and moved to Asheville NC. Made a pretty good 50%+ profit on the house. Got there and realized that it sucked. So now they are trying to move back and can’t afford it.
    Same happened to a great client that moved to Florida from CA. It was cheaper for a reason you dolts.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  21. #14421
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    Mar 2008
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    the ham
    Posts
    9,808
    Remember the guy who bought the 1380 sq ft rancher that was listed at 710k for 822k and immediately put it back on the market for 895?

    Well, I guess the market called his bluff. 100k price reduction.

    https://www.redfin.com/WA/Bellingham.../home/15814976

  22. #14422
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    Oct 2007
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    10,121
    Quote Originally Posted by snowaddict91 View Post
    I recently joined an MTB/social facebook group here in Montrose to try and meet some new people. Almost everyone has the same story- moved within the last few years from (whatever ski town) because it's more affordable (sort of) and good enough. Guess I'm not the only one thinking that way.
    It is the constant discussion around ski towns between locals right now. Where is the next great place to live? It has gotten kind of annoying. Really messes with your head.

    House down the street sold for $125K over asking. Almost double what they paid just two years ago. WTF?

  23. #14423
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    Mar 2008
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    the ham
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    Quote Originally Posted by Name Redacted View Post
    We have some neighbors who cashed out last year and moved to Asheville NC. Made a pretty good 50%+ profit on the house. Got there and realized that it sucked. So now they are trying to move back and can’t afford it.
    Change neighbors to relative, and Sarasota FL, and yeah, same story.

  24. #14424
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    Dec 2016
    Location
    In a van... down by the river
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    Move shitty places... win shitty prizes?


  25. #14425
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
    Posts
    2,099
    I think we've finally gotten to the point where the next great, cheap, hidden gem of a mountain town in upstate NY.

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