Real Estate Crash thread

[TAFKALVS]

:
Contact centers
Analysts
Data scientists
Software devs
Project/program management (non construction)
Professional programs educators
Really most anything that doesn't deliver a physical good.

Finance/bookkeeping/accountant/accounts payable/accounts receivable
Customer service
Account Management
Contract/Account Retention
Purchasing
Marketing
Legal
HR

Many other jobs can be based from home with travel to events/vendors/on-site as needed, like Sales Representatives.

Really for a manufacturing or distribution business the only people who "need" to be in the office are those who make things, pack boxes or oversee the people who do those things.

Outside of manufacturing/warehouse operations portion of a business, the c-suite/vp/dir management team likely can be in/out of office based on whats going on, and split time between the operations hub/hq and whatever slice of lake/ocean/mountain/retreat/paradise they carved for themselves. They're on the golf course most of the time anyway, what does it matter where they sleep?

[mcphee]

i really admire those who calmly respond to Benny's insane flailing about

[Benny Profane]

Oh, and wait until they get that zoom call about pay cuts. Not working in SF anymore? What, you moved to podunk? Fine, here's podunk pay, plus, maybe, 10%, if they like you.

[Benny Profane]

Attachment 386873

That's actually kind of a shiity metaphor. I mean, get back to us in a year or two.

[Buster Highmen]

I remember being incensed at the housing prices in Seattle circa 1985.
$200k for a 3bd/2ba Phinney Ridge bungalow? Even with a view of the Olympics, I was "fuck that".
Same for the $150k Ballard flats warshacks.

It sure seemed ridiculously high at the time.

[dunfree]

I remember being incensed at the housing prices in Seattle circa 1985.
$200k for a 3bd/2ba Phinney Ridge bungalow? Even with a view of the Olympics, I was "fuck that".
Same for the $150k Ballard flats warshacks.

It sure seemed ridiculously high at the time.

after this?

[dan_pdx]

I remember being incensed at the housing prices in Seattle circa 1985.
$200k for a 3bd/2ba Phinney Ridge bungalow? Even with a view of the Olympics, I was "fuck that".
Same for the $150k Ballard flats warshacks.

It sure seemed ridiculously high at the time.

I hear that, lots of sticker shock when looking at Bellingham housing these days, including our RE agent. But isn't it always ridiculously high? I'm pretty sure that most of the houses in my neighborhood sold at a record high price every time they were sold. We didn't even tank after 2008, just had no appreciation for 3-4 years.

[Flounder]

VPR held their fall fundraiser last week. Lots of new donations from people that had recently moved to Vermont. Not sure if things are slowing down but a couple of places listed like “shit I’ll sell if someone gives me a crazy amount of money” have been sitting for a while.

[Whiteroom_Guardian]

Seeing a good amount of price drops in SWMT right now, but I think most of it is the usual fall slowdown and sellers who don't want to pull a listing and just wait until spring to relist.

I still think if you can buy something unique and/or rare right now you are going to continue to see lots of upside year after year.



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[Buster Highmen]

But isn't it always ridiculously high? .

Ya think?

[Greenstateofmind]

VPR held their fall fundraiser last week. Lots of new donations from people that had recently moved to Vermont. Not sure if things are slowing down but a couple of places listed like “shit I’ll sell if someone gives me a crazy amount of money” have been sitting for a while.

A lady from NYC told me this summer that she moved fulltime to a place that is being heated only by a woodstove this winter. I've already got my slippers on

[Benny Profane]

A lady from NYC told me this summer that she moved fulltime to a place that is being heated only by a woodstove this winter. I've already got my slippers on

That reminds me of the stories of hippies moving to Vermont way back in hippie times that had no clue about, duh, winter. Boy, were they miserable.

[mcphee]

You find so much joy in other people’s misfortunes and I’m the angry one?


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[Benny Profane]

Well, even at the tender age I read those articles, I kinda said, duh. What were they thinking?

Now, it's not only the cold, but, the junkies and then locals that hate you. Oh, and black fly season. That's fun.

[liv2ski]

It is often impossible to know where your life will be in 5, 10 or 15 years. And the same can be said for most anything except RE in a good area. In my lifetime, RE has consistently gone up overtime. Sure, it may pull back for a few years but over the course of 10 years it is always way more. Will this continue? Probably unless your presently about 30 feet above sea level, then time isn't your friend.

[mud]

Even if you buy at the top of a housing boom you will make up the difference when you add in inflation and rising rent prices.
Here is one slide I use in teaching.

[dunfree]

Even if you buy at the top of a housing boom you will make up the difference when you add in inflation and rising rent prices.
Here is one slide I use in teaching.

national averages? Are these courses dirt pimp seminars?

[altasnob]

Benny is just your stereotypical New Englander who doesn't understand the Western real estate scene for the last 40 years. That's why people from the West get such a kick out of his rants. For a person like myself who has only lived in places with skyrocketing real estate prices, I am blown away there are places out there like Connecticut that have experienced no growth in the last 20 years. Both extremes suck for different reasons.

[mud]

national averages? Are these courses dirt pimp seminars?

Back of the napkin, averaged conservatively over 80 years, the last 40 years it would be a lot higher. Inflation would be closer to 5% yoy.
This is for dirt pimps so it doesn't have to be exact, just something to show clients.

[Benny Profane]

Benny is just your stereotypical New Englander who doesn't understand the Western real estate scene for the last 40 years. That's why people from the West get such a kick out of his rants. For a person like myself who has only lived in places with skyrocketing real estate prices, I am blown away there are places out there like Connecticut that have experienced no growth in the last 20 years. Both extremes suck for different reasons.

Hey, I pretty much understand the western market. I look at it aghast most of the time, because, late stage capitalism and failed state end run times and all that. There's no water, it's burning, the ground shakes violently under tens of millions of people, and it's about as fossil fuel and auto/truck dependant as any place on Earth. But, hey, people dig it. Texas is number one in internal immigration. Texas. And yet, people are spending a shit ton to move to some places. They don't seem to care about education or culture. Certainly not politics. Or, maybe the last part. They like that shit. Whatever. Meanwhile, we as a country don't make anything anymore and the economy seems to run on the twenty percent with any kind of income and money, investing that money in silly shit, like Facebook. And winning.

So, anyway, I still haven't had Bozeman explained to me. Well.

[Toadman]

Oh, and wait until they get that zoom call about pay cuts. Not working in SF anymore? What, you moved to podunk? Fine, here's podunk pay, plus, maybe, 10%, if they like you.

Maybe. Depends what remote job you are doing, and how hard it is to find talent. Everyone but a few senior execs worked from home the past 12 months at my employer. So finance, accounting, billing, credit and collections, purchasing, marketing and customer service. Company did quite well during that time. So, every job except the building maintenance mgr. was able to do the WFH thing. We have a flex schedule and depending on what level you are you can work remote one or two days a week.

Time as it always does, will tell how things shake out long term.

https://news.yahoo.com/tech-companie...130200028.html

n a hyper-competitive job market that favors specialized workers like those focused on technology, it is shortsighted for companies to consider cutting salaries of those who want to make permanent remote work arrangements prompted by COVID-19.

But a new Dice survey finds that one in 10 technologists say they have been asked to take a pay cut if they don't plan to return to the office. Facebook and Twitter have reportedly reduced salaries for employees who've moved to less expensive areas, and Google is considering a similar plan. On the flip side, Reddit and Zillow are among employers encouraging workplace flexibility, and a separate Dice survey found that 28% of companies have increased salaries to attract technologists from high cost-of-living tech hubs.

[dunfree]

Back of the napkin, averaged conservatively over 80 years, the last 40 years it would be a lot higher. Inflation would be closer to 5% yoy.
This is for dirt pimps so it doesn't have to be exact, just something to show clients.

so it’s a timeshare sales pitch using numbers since 1941

ya coulda made, and lost, many fortunes in that time.

[Danno]

Hey, I pretty much understand the western market.

Of course you do, you're a local after all.

[mcphee]

Of course you do, you're a local after all.

He’s used that “I pretty much understand” qualifier on other topics, yet he’s so cocksure about everything.

[mud]

so it’s a timeshare sales pitch using numbers since 1941

ya coulda made, and lost, many fortunes in that time.

I put in a pic of Einstein so they think I'm smhart.
He was talking about the equity markets but it works for housing as well.