Real Estate Crash thread

**neufox47** · 01-25-2022, 10:28 PM

Originally Posted by Mazderati

Move somewhere and don't get involved in the community and people complain.
Move somewhere and get involved in the community and people complain.

Mostly, people just want to complain and remind you they are more local than you are because they moved there before you did.

I think it has even tamped down the bitching about the youths. My favorite though is some boomer bitching about the migrants and bitching about the local kids who grew up there.

**Foggy_Goggles** · 01-26-2022, 07:01 AM

Everybody loves a hustler, nobody wants to hustle.

Re: change

STR usage tax at the Commercial Property Tax rate
A gondi from town to alleviate traffic on 40
A legitimate public transportation system to facilitate workers being able to live in Granby and HSS
No decreased density rezones
No more good ol' boy business owner welfare masquerading affordable housing initiatives
Massive increasing in compensation to public employees

How is that to start?

**altasnob** · 01-26-2022, 08:18 AM

Public transit is subsidized everywhere in America, even in the most dense neighborhoods in NYC and San Francisco (the densest places in America). Subsidized meaning fares don't cover the costs. Transit is not subsidized in places on earth more dense than NYC, like Hong Kong.

So my question is how are you going to pay for a ghondi and this public transportation system you speak of in ski town USA? Same for increased pay to public employees?

Also, why do you dislike decreased density? I assume what you are referring to is a plan to increase density in the urban centers, but decrease density away from those central urban areas in an effort to maintain rural character. In other words, urban planning. I remember Aaron Rider bringing this concept up on a Teton Valley rezone last year (and opposing it).

**abraham** · 01-26-2022, 08:22 AM

Most public transit systems spend more money collecting fares than they receive from those fares.

**altasnob** · 01-26-2022, 08:22 AM

Idaho, Florida, Arizona, and Texas cities top list of most overvalued real estate markets

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**Name Redacted** · 01-26-2022, 08:33 AM

I think that you misunderstood, he says "No Decreased Density Rezones"

But I agree, a lot of Foggy's ideas cannot be accomplished without raising taxes on the locals, which would have to be put to a vote, and if passed, would hurt locals even more. F-that. Need to figure out how to take money from the tourists, and 2nd homeowners, w/o hurting the locals. Lift ticket taxes, resort fees, STR taxes and licensing, etc.

However, taxing STR properties as commercial can open up a whole world of problems. Unintended, very bad, problems. El Paso county is trying it out, let them be the guinea pigs.

**dan_pdx** · 01-26-2022, 08:38 AM

Originally Posted by Name Redacted

However, taxing STR properties as commercial can open up a whole world of problems. Unintended, very bad, problems. El Paso county is trying it out, let them be the guinea pigs.

Oh? I'm interested in the whole STR thing ever since the house next door became an STR. What are the problems you see around taxing them as commercial?

**liv2ski** · 01-26-2022, 08:50 AM

Originally Posted by Name Redacted

I think that you misunderstood, he says "No Decreased Density Rezones"

But I agree, a lot of Foggy's ideas cannot be accomplished without raising taxes on the locals, which would have to be put to a vote, and if passed, would hurt locals even more. F-that. Need to figure out how to take money from the tourists, and 2nd homeowners, w/o hurting the locals. Lift ticket taxes, resort fees, STR taxes and licensing, etc.

However, taxing STR properties as commercial can open up a whole world of problems. Unintended, very bad, problems. El Paso county is trying it out, let them be the guinea pigs.

My town is a big tourist destination and the town raises a fuck ton of revenue from lodging occupancy tax, so there you go.

**Benny Profane** · 01-26-2022, 09:07 AM

Originally Posted by Name Redacted

I think that you misunderstood, he says "No Decreased Density Rezones"

But I agree, a lot of Foggy's ideas cannot be accomplished without raising taxes on the locals, which would have to be put to a vote, and if passed, would hurt locals even more. F-that. Need to figure out how to take money from the tourists, and 2nd homeowners, w/o hurting the locals. Lift ticket taxes, resort fees, STR taxes and licensing, etc.

However, taxing STR properties as commercial can open up a whole world of problems. Unintended, very bad, problems. El Paso county is trying it out, let them be the guinea pigs.

How about taxing the corporations that benefit from the workers being more mobile? If it's in anybody's interest, it's their's.

**Bunion 2020** · 01-26-2022, 09:10 AM

^^^ Holy fuck, a blind squirrel found an acorn. Great idea.

**Name Redacted** · 01-26-2022, 09:23 AM

Originally Posted by dan_pdx

Oh? I'm interested in the whole STR thing ever since the house next door became an STR. What are the problems you see around taxing them as commercial?

Here's an article about what would happen if CO started assessing STRs as commercial and taxing them:

https://coloradosun.com/2021/10/14/s...bill-colorado/

**Name Redacted** · 01-26-2022, 09:25 AM

Originally Posted by Benny Profane

How about taxing the corporations that benefit from the workers being more mobile? If it's in anybody's interest, it's their's.

Explain how that would work exactly. Summit county taxes a financial firm in NYC for letting their worker work remotely, and the worker spends the winter and summer in Breck, shoulder seasons in MX. Or Does NY tax the firm? Or is it a federal tax?

**mud** · 01-26-2022, 09:28 AM

^ That seems fair, You want to turn your home into a motel then pay the same taxes as the local inn.

**skaredshtles** · 01-26-2022, 09:29 AM

Originally Posted by Name Redacted

Here's an article about what would happen if CO started assessing STRs as commercial and taxing them:

https://coloradosun.com/2021/10/14/s...bill-colorado/

Looks good to me. Property taxes in Colorado are already absurdly low. And why *not* charge commercial rates if the property is being used commercially? It seems like and open/shut case.

Which means I'm probably not considering some important other stuff.

**Name Redacted** · 01-26-2022, 09:42 AM

You guys like the sound of the banks calling the notes on thousands of homes because overnight they are classified as commercial? I doubt that would have any unintended negative consequences.

Or stay anywhere other than your home for less than $750 a night?

**abraham** · 01-26-2022, 09:47 AM

And turning residences into businesses as short term rentals hasn't caused any issues anywhere. Especially not Colorado.

**liv2ski** · 01-26-2022, 09:48 AM

Occupancy tax of 12% is $36 bucks more a night, so how did you arrive at $750 a night?

**dan_pdx** · 01-26-2022, 09:50 AM

Originally Posted by skaredshtles

Looks good to me. Property taxes in Colorado are already absurdly low. And why *not* charge commercial rates if the property is being used commercially? It seems like and open/shut case.

Which means I'm probably not considering some important other stuff.

I felt the same way. Probably comes down to whether you own an STR or just live in neighborhoods that have them

**Name Redacted** · 01-26-2022, 09:55 AM

Originally Posted by liv2ski

Occupancy tax of 12% is $36 bucks more a night, so how did you arrive at $750 a night?

Not sure where you got 12%.

**liv2ski** · 01-26-2022, 09:57 AM

12% is what the hotels charge in town for nightly occupancy tax to the town.

**Self Jupiter** · 01-26-2022, 10:02 AM

.

**Benny Profane** · 01-26-2022, 10:02 AM

Originally Posted by Name Redacted

Explain how that would work exactly. Summit county taxes a financial firm in NYC for letting their worker work remotely, and the worker spends the winter and summer in Breck, shoulder seasons in MX. Or Does NY tax the firm? Or is it a federal tax?

Works in NYC. Subways roll, schools everywhere, some excellent, public hospital system, and low property taxes. If you want to do business, grease the wheels.

**Skistack** · 01-26-2022, 10:07 AM

Any tourist-based economy that isn’t rolling in tax dollars is doing it wrong.

Sent from my iPhone using TGR Forums

**Name Redacted** · 01-26-2022, 10:13 AM

Originally Posted by liv2ski

12% is what the hotels charge in town for nightly occupancy tax to the town.

And that’s about what STRs are already paying. We are talking property taxes. Which is what the article was about.

**skaredshtles** · 01-26-2022, 10:20 AM

Originally Posted by Name Redacted

You guys like the sound of the banks calling the notes on thousands of homes because overnight they are classified as commercial? I doubt that would have any unintended negative consequences.

I wouldn't recommend simply switching it one day. Phase it in over a few years so that people that have *commercially* purchased property can decide how they want to handle the new rules.

Or stay anywhere other than your home for less than $750 a night?

Sounds like we're already there, in most resort communities...