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Thread: Real Estate Crash thread
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02-24-2021, 02:44 PM #11376Registered User
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Somewhat shocked to find out that the median home price in Bellingham is higher than Portland. Same question as Bozeman - what's the industry in Bellingham that supports those prices? Can we chalk it all up to the Microsoft retirees?
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02-24-2021, 02:47 PM #11377Registered User
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02-24-2021, 03:03 PM #11378
Go back a page or two and the price indexes are all posted for Northeast states. CT and RI are really the flattest markets. NH, VT and MA have all done gangbusters. NY has been doing better than CT and RI.
Northeast is not flat, just CT that's sucking the big one (mostly)
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02-24-2021, 03:04 PM #11379
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02-24-2021, 03:08 PM #11380
Montana sucks! There I said it.
JkDecisions Decisions
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02-24-2021, 03:24 PM #11381Banned
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02-24-2021, 04:00 PM #11382Registered User
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This shit cracks me up.
As another meaningless data point I left Bozeman due to the housing madness. I'm also currently working on a house that sold to a Seattle couple for around 270k. Full teardown to studs/structural issues/new addition to the tune of around 100k. They're excited how cheap that is.....I live in a town of 900 people in "bumfuck" MT.
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02-24-2021, 04:19 PM #11383
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02-24-2021, 04:21 PM #11384
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02-24-2021, 04:23 PM #11385Registered User
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02-24-2021, 04:26 PM #11386Banned
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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.
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02-24-2021, 04:27 PM #11387
I would posit that there's more than 2. Because while it's easy to differentiate between the haves and have nots, the haves are not all equal. I may not *need* a stimulus check (though I will damn sure be happy to get one), in that respect I'm in the haves category. But there is a realm of wealth that the system favors that certainly does not include me.
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02-24-2021, 04:44 PM #11388Registered User
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Oh, is Bunny trolling you guys with the “I don’t get it” Schtick again? Who is he? Josh Baskin?
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02-24-2021, 04:47 PM #11389
Data don't lie
https://fred.stlouisfed.org/series/VTSTHPI
Go try to buy a place commutable to Burlington.
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02-24-2021, 04:52 PM #11390
I can't keep track of where you are right now but this is almost as dumb as Bunny's posts here. Plenty of these really expensive mountain towns (not necessarily ski towns, though Bozeman is) have high-quality healthcare, extremely good schools, and are generally in a liberal bubble, so the neighbors are far more likely using their garage to store their own expensive toys than to cook meth.
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02-24-2021, 04:54 PM #11391
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02-24-2021, 04:55 PM #11392Banned
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Meh, high-quality healthcare is relative. And you are right about some resort towns/areas, but there are plenty of places that align with my description that have seen crazy run-ups on RE prices.
You make some perfectly valid points, but so do I. There are plenty of both types of places out there, and even more that lie somewhere in between the two extremes.
I get around geographically, and given the price of real estate, that will likely continue.
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02-24-2021, 05:00 PM #11393
From my own experience here in Bend, there are a lot of people who had very good careers in all sorts of different industries. Certainly tech, but also in the legal profession, energy sectors, and even a few former and current professional athletes.
Folks who have spent 35-40 years working and making decent scratch and building up major equity are cashing in and moving out of the big cities. There's a lot of boomers who have done very well and are driving up RE prices in mtn towns all over the West.
Will they stay or move back and cause a major supply glut? Who knows. Time will tell."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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02-24-2021, 05:04 PM #11394
Real Estate Crash thread
It’s almost like the country is...expanding...west. Been happening since 1620. Yawnnnn. More people move, prices go up, things progress and get nicer.
Soon enough you people on the west coast will have telephones and cars and color tv and shit!
But doesn’t mean there’s a crash or anything like that coming.Decisions Decisions
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02-24-2021, 05:04 PM #11395Banned
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That's quite different from the demographics of the recent transplants here, at least anecdotally. Seem to be lots of folks in the 35-50 bracket with young children and Ranger Rovers/skyjacked Platinum trim Super Dutys with Florida and Texas and New York plates. Californians seem to prefer the newest extended wheelbase Escalades, and Teslas.
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02-24-2021, 05:06 PM #11396Registered User
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02-24-2021, 05:09 PM #11397Banned
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02-24-2021, 05:31 PM #11398
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02-24-2021, 05:35 PM #11399Banned
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02-24-2021, 05:47 PM #11400Registered User
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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
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