Real Estate Crash thread

[Meadow Skipper]

Fun Fact: Your credit card debt dies with you.

Well, your estate (if any) gets hit for it, but not your heirs. No estate, then it does die.
https://www.consumerfinance.gov/ask-...e%20who%20died.

So, I guess rack it up in excess of what you’re leaving behind.

[mud]

It's all insured with service fees, when you pay by credit card you are paying the POS 3% which covers their profit, costs, and loss.

[Name Redacted]

It's all insured with service fees, when you pay by credit card you are paying the POS 3% which covers their profit, costs, and loss.

Technically the business pays that and the percentage varies depending on a few factors, but yeah, you are on the right track.

[mud]

Jared Isaacman isn't taking trips to space because he is losing money.

[ötzi]

Didn’t know where to put this but check out the barn.

https://www.zillow.com/homedetails/7...ource=txtshare

[Vt-Freeheel]

Those laminated trusses are beautiful and amazing

[Skistack]

Viewshed? Whoever wrote that needs to die in a fire.


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[spanky]

Didn’t know where to put this but check out the barn.

https://www.zillow.com/homedetails/7...ource=txtshare

The upstate thread?

[Dantheman]

The ridiculous cleaning fees and checkout procedures, inflated prices, cancellations close to your trip dates without any help rebooking, and bunch of other small annoyances. For me it's almost always easier and cheaper to get a hotel unless it's a big group.

IDK, the wife and I are renting a condo in Park City this weekend for a bit over $200/night all-in. Nice location, full kitchen, tons of space, private hot tub, garage to stash the bikes. Granted that it's still kind of the shoulder season, but most PC hotels are $200+/night for just a room.

[tgapp]

IDK, the wife and I are renting a condo in Park City this weekend for a bit over $200/night all-in. Nice location, full kitchen, tons of space, private hot tub, garage to stash the bikes. Granted that it's still kind of the shoulder season, but most PC hotels are $200+/night for just a room.

nice man! that's awesome!! i wanna do a staycation like that, that sounds sweet!

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[Supermoon]

IDK, the wife and I are renting a condo in Park City this weekend for a bit over $200/night all-in. Nice location, full kitchen, tons of space, private hot tub, garage to stash the bikes. Granted that it's still kind of the shoulder season, but most PC hotels are $200+/night for just a room.

Yeah. I think this situation is where STR really shines.

I just spent two weeks in Europe and we got one of the apart-hotel rooms and that I think is a sweet spot. Space and features of a condo, amenities of a hotel. It was basically the same price or cheaper than the similar airbnbs. Wish they had more of those in the US.

[Danno]

The upstate thread?

that place is going to cause angst in the upstate thread. To a New Yorker it is surely upstate, but to the real upstaters???

[Ted Striker]

Viewshed? Whoever wrote that needs to die in a fire.

"Does it have a view?"

"Well, that there is the shed..."

[spanky]

that place is going to cause angst in the upstate thread. To a New Yorker it is surely upstate, but to the real upstaters???

Exactly why I recommended there!

[CarlMega]

Those laminated trusses are beautiful and amazing

how do you even make post/truss like that? amazing.

[mud]

Bit overpriced.

https://pexp.housecanary.com/shared-...d82140cc2a981a

[ötzi]

Those laminated trusses are beautiful and amazing

Aren't they insane? Unreal.

[Lvovsky]

Didn’t know where to put this but check out the barn.

https://www.zillow.com/homedetails/7...ource=txtshare

No ski tuning bench. No bike shop. What a dump.

[panchosdad]

I'll believe it when I see it. In my lifetime living in the West, I have never seen a time where we had too much housing. I've also never seen a time when rents go down other than momentary blips and then they just rebound back to where they were and then some.

Did you not live in the West in 2008-2012? We certainly saw all that in Teton Valley.

[rideit]

Word. 2009-12 was...interesting.

[Toadman]

Dominoes falling in San Fran.

https://www.bloomberg.com/news/artic...y?srnd=premium

The owners of the Westfield San Francisco Centre mall are giving up the property to lenders, adding to deepening real estate pain in a city struggling to bring back workers and tourists after the pandemic.

The mall, co-owned by Unibail-Rodamco-Westfield and Brookfield Corp., has $558 million in outstanding mortgage debt. Management will be turned over to a receiver.

[Name Redacted]

When was the last time any of you went to a mall. Malls have been tanking for over a decade.

[Toadman]

Bit overpriced.

https://pexp.housecanary.com/shared-...d82140cc2a981a

LOL - My in-laws had a 2nd home not too far from Millerton. Nice area if you want to get away from things.

[Toadman]

When was the last time any of you went to a mall. Malls have been tanking for over a decade.

It's probably been at least 6 years. I have to really think about it, but I can't recall going to a mall in a very, very long time. In fact, while I am trying to think of the last time I went to a mall, I'm getting nothing...

[californiagrown]

When was the last time any of you went to a mall. Malls have been tanking for over a decade.

yep, Mall owners have been struggling for years even before the pandemic. They thought they could be bailed out by turning the empty big box stores (Macys, JC Penny, etc) into Amazon/Target fullfillment wharehouses but that market is crashing too. What will happen, IMO, is the malls will turn into big mixed use developments, and its up to the mall owners if they want to play developer or sell to a developer.