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  1. #11376
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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?

  2. #11377
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    Quote Originally Posted by dan_pdx View Post
    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?
    Lots of dentists in that town.

  3. #11378
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    Quote Originally Posted by Benny Profane View Post
    Fine. Boston. About a hundred colleges and universities. MIT. Harvard. The well established tech corridor of 128. Major financial firms. You know, money. Business. Well established for literally centuries. I'm not comparing that to Ct., I'm comparing that to fucking Bozeman. What the hell does Bozeman have, compared to Boston that warrants such inflated home values? Where are people getting this money? Not from careers. From banks, for almost free. We've seen this before. Or, I'll mention another horribly overheated market. Boise. What the fuck? French fry money?

    This will not end well
    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)

  4. #11379
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    Quote Originally Posted by kathleenturneroverdrive View Post
    I don't understand what you want Benny. People want to live here.
    Benny splits his time between CT and Summit County so it's no wonder he doesn't understand why anyone would want to live in MT, and that's just as well, if you ask me.

  5. #11380
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    Montana sucks! There I said it.


    Jk
    Decisions Decisions

  6. #11381
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    Quote Originally Posted by Benny Profane View Post
    Oh boy. "We"? Not the TGR white privelege kiddies. We're doing fine. And that's the problem. The elite, wealthy politicians and media mouthpieces have no concept of what it's like to be part of the at least half of Americans who are now in a depression.

    I could use that stimulus check.

  7. #11382
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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.

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

  8. #11383
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    Quote Originally Posted by RoooR View Post
    There are 124M HHs in the United States. Let's say HH Income above 150k for these groups.

    According to Wikipedia that's about 14M house holds. Bozeman only has about 20k HH. So it really only takes a couple hundred (or less) people deciding to move there to stress out the market. That's a super small % of the nations wealthy.

    Anecdotally as an older millennial, almost every single friend of mine from college is now part of a HH with over 200k in income. Some of them have visited me out here and had their minds blown at how hedonistic my life is and briefly pondered moving. But them most of them remember they don't like being outside as much as I do.

    https://en.wikipedia.org/wiki/Househ..._United_States
    You are confusing wealth with income.

  9. #11384
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    Quote Originally Posted by schuss View Post
    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)
    You had me until Vermont going "gangbusters". Really? Vermont? For fucks sake.

  10. #11385
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    Quote Originally Posted by dan_pdx View Post
    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?
    Access to loam don't come cheap.

    There are people that have decided they'd rather be house poor with crap retirement investments and earn a mediocre wage but be close to the skiing/hiking/biking/climbing/fishing they enjoy.

  11. #11386
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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.

  12. #11387
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    Quote Originally Posted by hatchgreenchile View Post
    Didn't catch my sarcasm, eh?
    Agree on the rest - pretty clear that politically, socially and economically, there are Two Americas.
    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.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy

  13. #11388
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    Oh, is Bunny trolling you guys with the “I don’t get it” Schtick again? Who is he? Josh Baskin?

  14. #11389
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    Quote Originally Posted by Benny Profane View Post
    You had me until Vermont going "gangbusters". Really? Vermont? For fucks sake.
    Data don't lie
    https://fred.stlouisfed.org/series/VTSTHPI

    Go try to buy a place commutable to Burlington.

  15. #11390
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    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.
    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.

  16. #11391
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    Quote Originally Posted by schuss View Post
    Data don't lie
    https://fred.stlouisfed.org/series/VTSTHPI

    Go try to buy a place commutable to Burlington.
    Easy. If you want to live in Vermont.

  17. #11392
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    Quote Originally Posted by RootSkier View Post
    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.
    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.

  18. #11393
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    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

  19. #11394
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    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

  20. #11395
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    Quote Originally Posted by Toadman View Post
    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.

    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.

  21. #11396
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    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.
    It's okay the new transplants will gentrify these bumfuck nowhere towns soon enough. First it will be some qualify little café for a good coffee and soon followed by a craft brewery.

  22. #11397
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    Quote Originally Posted by shirk View Post
    It's okay the new transplants will gentrify these bumfuck nowhere towns soon enough. First it will be some qualify little café for a good coffee and soon followed by a craft brewery.

    That phase of gentrification took place across the great majority of the American west during the last 10 years. Now we're on to rents and cost of living driving those independent businesses out to make way for corporate chains.

  23. #11398
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    Quote Originally Posted by Brock Landers View Post
    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.
    And maybe plentiful water and electricity that works.

  24. #11399
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    Quote Originally Posted by Benny Profane View Post
    And maybe plentiful water and electricity that works.
    You have a point on water, but less of one on the grid/electrical infrastructure. In the last ten years my parents have cumulatively spent almost two full months without power, and they're 45 miles from Midtown Manhattan.

  25. #11400
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    Quote Originally Posted by Benny Profane View Post
    And maybe plentiful water and electricity that works.
    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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