Real Estate Crash thread

**AK47bp** · 10-05-2021, 05:41 PM

Originally Posted by Danno

I'm a water lawyer.

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**Name Redacted** · 10-05-2021, 05:44 PM

Originally Posted by AK47bp

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That was fucking gold. Thanks.

**californiagrown** · 10-05-2021, 09:39 PM

Originally Posted by altasnob

Tacoma is having a rash of catalytic converter theft at the moment. Check out these signs Portland based Schnitzer Steel is putting up around town encouraging the tweekers. Normally right next to a homeless camp. Fucking bullshit.

Attachment 387975

Yeah they can get fucked. Also a dirty AF recycling site that is getting sued for rampant environmental violations.

**TAFKALVS** · 10-05-2021, 11:13 PM

Can the real estate market hurry up and crash?

**Falcon3** · 10-06-2021, 01:52 AM

Originally Posted by The Artist Formerly Known as Leavenworth Skier

Can the real estate market hurry up and crash?

I’d be happy if just the mountain bike market would crash, sheesh.

**Benny Profane** · 10-06-2021, 03:05 AM

Crash? Hmmm, maybe a little...

https://www.denverpost.com/2021/10/0...tent=automated

Metro Denver’s housing market continued slowing in September, with the number of homes and condos sold declining and the inventory of active listings on the market rising by a record monthly amount, according to an update from the Denver Metro Association of Realtors.

“In August, we saw a relatively low amount of houses hit the market,” Andrew Abrams, chairman of the DMAR Market Trends Committee, said in the monthly Market Trends Report.

The number of homes and condos sold fell 10.9% to 5,233 between August and September, which is down by a fifth from the number sold in September 2020, when prices were lower and buyers were desperate to find more living space because of the pandemic.
The drop in sales was accompanied by a 10.9% monthly increase in active listings, which was much higher than the 0.8% gain typically experienced between the two months and a record for the two months. But supply, at 3,971 active listings, remains historically tight.

**fastfred** · 10-06-2021, 07:17 AM

Originally Posted by The Artist Formerly Known as Leavenworth Skier

Can the real estate market hurry up and crash?

no shit I can't wait
anytime now mid october always seems to be the d-day for financial ruin

**dan_pdx** · 10-06-2021, 09:20 AM

Originally Posted by altasnob

Same story in Seattle, Tacoma, San Francisco. It's bad everywhere, and yet the market is to the moon. There is always the suburbs.

Tacoma is having a rash of catalytic converter theft at the moment. Check out these signs Portland based Schnitzer Steel is putting up around town encouraging the tweekers. Normally right next to a homeless camp. Fucking bullshit.

Attachment 387975

HFS, that is some bullshit. Worst part is I've never seen signs like that here - they decided not to shit where they live, I guess, but are fine with shitting in other towns.

**Mazderati** · 10-06-2021, 09:35 AM

I'll just take some easing off on the price of parking spaces.

https://www.redfin.com/MA/Boston/345...A/home/9238846

**AK47bp** · 10-06-2021, 10:50 AM

Originally Posted by Mazderati

I'll just take some easing off on the price of parking spaces.

https://www.redfin.com/MA/Boston/345...A/home/9238846

Holy shit.

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**climberevan** · 10-06-2021, 11:18 AM

My neighbor here in Carson City just accepted an offer over asking ($780k), one of 2 that came in in the first 24 hours. Is a nice house, one of the nicest on the street, and priced "only" about 220% of what they paid in 2006. Down the street there is another one that sold for $350k in 2018 and for which they are now asking $640k after doing nothing more than a little bad landscaping.

I'm seriously wondering if I should cash out. $700k+ would probably buy a lot in Chile. How much longer can this keep going? Who are these people?

**Bobcat Sig** · 10-06-2021, 11:28 AM

Originally Posted by climberevan

... Who are these people?

Wealthy urban residents fleeing to the 'country'. Most are tech rich or did well in the stock market.

**Kevo** · 10-06-2021, 11:37 AM

Originally Posted by climberevan

How much longer can this keep going? Who are these people?

I'd guess they are Bay Area and SoCal transplants wanting Nevada tax residency and easy access to Tahoe.

PWC just went perma remote for almost all thier US employees- https://www.fastcompany.com/90683355...getting-bigger

My CEO and I have been pushing our CTO to allow US engineers to have perma remote status to aid in hiring and retention. After almost two years, he finally agreed as of last week. It'll be interesting to see how many people that we've hired out of LA actually stay there.

**ötzi** · 10-06-2021, 11:42 AM

Originally Posted by AK47bp

Holy shit.

$600K and the whole building's supercans are in there.

**TAFKALVS** · 10-06-2021, 11:47 AM

Originally Posted by Bobcat Sig

Wealthy urban residents fleeing to the 'country'. Most are tech rich or did well in the stock market.

Don't forget boomer retirees as well.

**simple** · 10-06-2021, 11:56 AM

Originally Posted by The Artist Formerly Known as Leavenworth Skier

Don't forget boomer retirees as well.

Boomers got their retirement houses 20 years ago

Agree it is mostly CA cunts cashing out of their inflated real estate and headed to the hills.

**Self Jupiter** · 10-06-2021, 12:01 PM

Lots of boomers winning bidding wars here in MA

**Bobcat Sig** · 10-06-2021, 01:13 PM

Originally Posted by simple

Agree it is mostly CA cunts cashing out of their inflated real estate and headed to the hills.

yup, this too

Lots of that here in PDX

**AK47bp** · 10-06-2021, 01:16 PM

Originally Posted by ötzi

$600K and the whole building's supercans are in there.

So if I just need 1 parking spot do I get a discount?

Only $300k.

Insane

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**altasnob** · 10-06-2021, 01:27 PM

People are oblivious to the true cost of parking. In 2017, Sound Transit (Seattle area regional transit agency) was budgeting $120k for each parking spot they built in their parking garages way out in the suburbs, like in Kent. I imagine that price has gone up considerably today and in downtown Seattle, it is easy to imagine the true cost of each parking spot to be around $200-300k on average.

That's why in general, developers are always trying to avoid building parking (the least amount of parking they can legally get away with) and the surrounding single family home neighbors are clamoring to get more parking built (because they know new residents will never give up their car and just park on the street instead).

**4matic** · 10-06-2021, 01:50 PM

My old hood is so full of cars now. Seems like every house has at least four. Street is packed and there is tension.

**JayPowHound** · 10-06-2021, 02:35 PM

https://fun107.com/provincetown-park...rageous-price/

**AK47bp** · 10-06-2021, 02:45 PM

Originally Posted by JayPowHound

https://fun107.com/provincetown-park...rageous-price/

Since it’s 8x18ft and you own it, could you park a travel trailer or medium sized RV there and never leave?

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**ötzi** · 10-06-2021, 03:36 PM

Originally Posted by AK47bp

Since it’s 8x18ft and you own it, could you park a travel trailer or medium sized RV there and never leave?

You could park a van painted with a big ad for your store, bar, or restaurant there every day and it might be worth the money, eventually. Front row, center of town, tons and tons of foot traffic and tight restrictions on signage for businesses there.