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  1. #8326
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    Quote Originally Posted by fastfred View Post
    The short term rental market in Breckenridge and summit was over saturated with rentals anyways everyone thought they were original and going to kill it needs a correction to bad this one is pretty ugly
    ]
    I checked out Marriott cleaning protocol vs Airbnb. Airbnb is a suggestion.

  2. #8327
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    listings are way up in utardia north of slc, though buyers seem to be still on point and enjoying the increased inventory, for now
    Day Man. Fighter of the Night Man. Champion of the Sun. Master of Karate and Friendship for Everyone.

  3. #8328
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    Quote Originally Posted by Benny Profane View Post
    Based on most towns are a massive seasonal weekly rental market, and many buying decisions are based on that income. Summit has an as big, maybe bigger market in summer.
    We make enough to pay for our place for the year over the winter. We hardly rent at all in the summers anyway. I also havenít seen a massive increase in inventory or drop in prices yet. People arenít panicking. Many arenít stupid enough to not have a backup plan at least to get through a few months without income.

  4. #8329
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    Quote Originally Posted by Name Redacted View Post
    We make enough to pay for our place for the year over the winter. We hardly rent at all in the summers anyway. I also havenít seen a massive increase in inventory or drop in prices yet. People arenít panicking. Many arenít stupid enough to not have a backup plan at least to get through a few months without income.
    Dude, I'm sure that, if you've been listening to or watching media the past few weeks, you've heard about the oft told quote from the Fed last year, that 40% of Americans can't come up with 400 dollars cash in an emergency. Now, you may scoff and think, oh, that's the Deplorables, which it is, of course, but don't kid yourself that that scales up to the other half, minus the top 1%, who have built a nice house of cards out of their financial life, based on credit and probably dual salaries, that could disappear in the matter of months if spending isn't reeled in pronto. I mean, the entire, the entire fucking restaraunt industry didn't just vanish in '08, just to mention one business. Poof.
    Now, I'm more surprised than anybody that mountain RE bounced back after 08. I thought I'd have the pick if the litter at closeout prices. Nope. Just the opposite. We'll see what happens now. Maybe, in white privilege land, mom and dad save the kids from harm, and the economy bounces back, and its back to the races to an even more unequeal society. Maybe not. But, there has to be a ton of mountain RE people who are in the edge of affordability, and will liquidate out of necessity, especially if they are jobless for a while. Deals may only last a few years, if at all, so, I'm watching.

    Let's do some livin'
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  5. #8330
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    I have seen 2 homes in my little hood bought in the last 12 months and now listed. Looks like someones income got fucked up?
    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.

  6. #8331
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    I know a nice young family that recently upgraded/closed on a very expensive house and see that their old house just went on the market. They must have some good coin in the bank to get approved for the new place before selling the old one but I cringe at the timing.

  7. #8332
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    Quote Originally Posted by Benny Profane View Post
    Dude, I'm sure that, if you've been listening to or watching media the past few weeks, you've heard about the oft told quote from the Fed last year, that 40% of Americans can't come up with 400 dollars cash in an emergency. Now, you may scoff and think, oh, that's the Deplorables, which it is, of course, but don't kid yourself that that scales up to the other half, minus the top 1%, who have built a nice house of cards out of their financial life, based on credit and probably dual salaries, that could disappear in the matter of months if spending isn't reeled in pronto. I mean, the entire, the entire fucking restaraunt industry didn't just vanish in '08, just to mention one business. Poof.
    Now, I'm more surprised than anybody that mountain RE bounced back after 08. I thought I'd have the pick if the litter at closeout prices. Nope. Just the opposite. We'll see what happens now. Maybe, in white privilege land, mom and dad save the kids from harm, and the economy bounces back, and its back to the races to an even more unequeal society. Maybe not. But, there has to be a ton of mountain RE people who are in the edge of affordability, and will liquidate out of necessity, especially if they are jobless for a while. Deals may only last a few years, if at all, so, I'm watching.
    Heard some famous chefwhat his what from top chef say he expects only 25% of restaurants to survive. He closed all his and laid off 300. The devestation to the industry is going to be unprecedented.

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  8. #8333
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    ^^^^Just one more reason never to do personal guarantees for a business.
    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.

  9. #8334
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    popular restaurant in town lost a chef to covid and shut it all down.

    https://www.instagram.com/p/B-Ka-nTBQh3/

    what happens when grocery workers start dropping

  10. #8335
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    Quote Originally Posted by kokomas View Post
    listings are way up in utardia north of slc, though buyers seem to be still on point and enjoying the increased inventory, for now
    I look almost everyday, and I've definitely seen an increase in lower price homes that look like they've been rentals.

  11. #8336
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    Quote Originally Posted by klauss View Post
    popular restaurant in town lost a chef to covid and shut it all down.

    https://www.instagram.com/p/B-Ka-nTBQh3/

    what happens when grocery workers start dropping
    Next unemployed person up.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  12. #8337
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    There will be a million headlines like this soon: "The Cheesecake Factory Tells Landlords Across the Country It Won’t Be Able to Pay Rent on April 1"

  13. #8338
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    Quote Originally Posted by klauss View Post
    popular restaurant in town lost a chef to covid and shut it all down.

    https://www.instagram.com/p/B-Ka-nTBQh3/

    what happens when grocery workers start dropping
    wrong thread (though of course they're all related now).
    "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
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  14. #8339
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    ha. I thought I was in the other thread

  15. #8340
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    Quote Originally Posted by klauss View Post
    popular restaurant in town lost a chef to covid and shut it all down.

    https://www.instagram.com/p/B-Ka-nTBQh3/

    what happens when grocery workers start dropping
    Chef Floyd isn't the chef, owner, or investor at Pok Pok.

  16. #8341
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    thanks for the clarification. I misinterpreted the post by PokPok

  17. #8342
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    Quote Originally Posted by sirbumpsalot View Post
    Chef Floyd isn't the chef, owner, or investor at Pok Pok.
    yeah, I just saw that too. He was in NYC, but his death caused Pok Pok to close up shop.
    "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
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  18. #8343
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    Aug 2006
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    Realistically though, I don't know many servers that own real estate outside of affordable housing.

    I think the loss of the restaurant industry "safety net" though is going to be interesting if this recession sticks around. In 08 I got punted there myself but I was able to find work serving tables. I don't know what a lot of people are going to do now that the entire industry is basically being run by a couple cooks and a FOH manager running a drive thru.
    Live Free or Die

  19. #8344
    RE bubbles take many moons to unwind. The floor of the market may go a bit lower with cheaper input pricing, but supply disruption and the luxury-heavy nature of supply suggests the real pain in this market will be on those that stretched with thin savings, those with spec-luxury product or 2nd/3rd/4th luxury houses that get mayor haircuts. The airbnb/brrr stuff is not long for this world though.

  20. #8345
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    https://www.salon.com/2020/03/25/ren...avirus-housing


    Nicole Karlis
    March 25, 2020 1:00PM (UTC)

    As states "shelter in place" to flatten the curve of the novel coronavirus spreading, there is uncertainty around what the aftermath will look like economically, especially when it comes to the housing market. But as anxious citizens practicing social distancing search the internet for silver linings, one popular post has been circulating on Twitter suggesting that the rental market is currently "exploding" because more short-term rental properties are for sale as their owners aren't able offer them to travelers.

    However, housing experts who spoke to Salon aren't so hasty to declare any such optimistic findings yet, but they are already seeing some interesting patterns that could indicate how this will all play out.

    "What's going on broadly in the housing market is that a lot of people are taking a 'wait and see' approach," Zillow economist Jeff Tucker told Salon. "So that would be sellers holding off, and they're worried. They say 'Oh, I won't be able to have an open house; My agent won't even be able to meet people in person, to show them around the house,' especially in states or cities where there's been a stay-at-home order. As we've heard that already in California, those orders are really causing the purchase side of the real estate market to grind to a halt."
    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. #8346
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    coworker is due to pick up keys to her new place, but per her description, cannot contractually complete the walk through required. funny if true, but thatís rough.

  22. #8347
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    Real Estate Crash thread

    2 homes in my neighborhood have sold in the past 2 weeks for a million +. which flabbergasted me (not bc of the price but bc of the timing)
    why not wait a couple weeks and get it a hundred thousand cheaper?
    Our mkt wonít crash as much as others but that just seems lazy
    skid luxury

  23. #8348
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    “I want that squirrel, daddy, and I want him NOW!”
    Forum Cross Pollinator

  24. #8349
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    Contracts went hard, weeks ago.

  25. #8350
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    Quote Originally Posted by Shredhead View Post
    Contracts went hard, weeks ago.
    I donít think so. I know these neighbors so have followed the progress and itís pretty damn easy to get out with contingencies.
    why wouldnít you risk losing a couple grand in earnest money to save tens of thousands?
    but as rideit mentions- people want what they want. and happy for my neighbors that got top dollhair
    skid luxury

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