Results 19,401 to 19,425 of 27096
Thread: Real Estate Crash thread
-
01-20-2022, 09:51 AM #19401
-
01-20-2022, 09:56 AM #19402
-
01-20-2022, 10:03 AM #19403Registered User
- Join Date
- Apr 2021
- Posts
- 2,886
-
01-20-2022, 10:20 AM #19404one of those sickos
- Join Date
- Oct 2005
- Location
- Tahoe-ish
- Posts
- 3,152
Eventually all of the arbitrage that seems to be happening must slow, right? A Californian moves here (bully for them!), driving up local prices bc they sold their 800sf bungalow in Oakland for $2M. Who bought that bungalow? Someone from SF? Then who's buying that person's place, etc?
Maybe I'm just being simple minded, here, but at some point housing costs need to have SOME connection to peoples' incomes in the local area, right?
Anyway, we're not going to be able to build our way out of this anytime soon. I could build houses and make bank but I'd rather just go ride my bike. Plus there's this:
https://www.theatlantic.com/science/...prices/621288/ride bikes, climb, ski, travel, cook, work to fund former, repeat.
-
01-20-2022, 10:37 AM #19405
-
01-20-2022, 10:38 AM #19406
https://www.zillow.com/homedetails/8...20789894_zpid/
I was talking to the dude who just bought this property in LA for $1.2m and is trying to rent it out for $5k/month.
Him + wife are moving into the 400 sq ft ADU on the property, and he said they still will have to pay $800/month towards the mortgage. Long term he plans to do a cash out refinance, buy another property, rinse, repeat… easy as that, right?!?!
Seems to me like he is setting himself up for financial disaster. But hey, what do I know.
I’m sure there are plenty more people like this out there donating to the long-time CA resident relocation rescue fund
-
01-20-2022, 11:21 AM #19407
-
01-20-2022, 11:27 AM #19408Registered User
- Join Date
- Jan 2010
- Location
- your vacation
- Posts
- 4,738
San Juan County is just south of Spanish valley they don't have shit going on and are happily approving any and all development to piss off grandcounty moab it's pretty funny
-
01-20-2022, 11:40 AM #19409
I have 4K sf for two people. GIrl has the whole upstairs with separate home theater, living space, guest suite. It might be too big but if you like personal privacy it’s great. Not to mention guests also have a full suite just like a hotel.
-
01-20-2022, 11:42 AM #19410
Let me introduce you to technology venture capital and related returns...
"In 2021, U.S. investments in venture capital exceeded $300 billion for the first time, nearly doubling 2020’s $166.6 billion figure, according to an early look at PitchBook’s fourth quarter venture monitor."
https://www.institutionalinvestor.co...ecords-in-2021
-
01-20-2022, 11:47 AM #19411Hucked to flat once
- Join Date
- Oct 2005
- Location
- Idaho
- Posts
- 11,001
-
01-20-2022, 11:49 AM #19412
As much as I hate to say it, I agree with this. I believe pretty choking regulations of STRs will help ease the housing shortage. And not taxes those just increases prices, what I've seen work to some degree is city wide caps if not bans.
My libertarian beliefs, and desire to own STRs as an investor directly contradict the above though, so don't yell at me too much.The whole human race is de evolving; it is due to birth control, smart people use birth control, and stupid people keep pooping out more stupid babies.
-
01-20-2022, 11:55 AM #19413
-
01-20-2022, 11:56 AM #19414
-
01-20-2022, 12:11 PM #19415
Drop in the bucket, but in my home town there is a 225 unit STR cap. Out of 8000 homes in town 3% are STRs.
In a time of increasing population we have essentially decreased housing stock by 3% in 3 years and that's with a cap (there's a 3 year wait list).
At the same time increasing the cost of a house (an STR can generate 3 to 5x the cash flow as an LTR) so a house that is worth say 100k to a long term investor is worth 200k to a short term investor. Then of course you have family home buyers, inflation, Califonication etc all compounding the issue.
That's just my small town highly seasonal Michigan market. The issue is even more stark in vacation towns where STR occupancy is higher and returns are better.The whole human race is de evolving; it is due to birth control, smart people use birth control, and stupid people keep pooping out more stupid babies.
-
01-20-2022, 12:59 PM #19416
-
01-20-2022, 01:03 PM #19417
I know someone who was doing that exact same program pre-RE market crash. Then he got caught with the chair at the end of the music. Except that chair wasn't worth even half what he paid for it. He's just about back to square one now about a decade later.
The lot we bought in Bend was a similar story with a RE agent that was just buying up properties pre crash and then flipping them to home builders or people looking to buy the American dream. His misery was our gain though.
I guess that's Capitalism for you.
And I agree with whoever said we ain't building our way out of the housing shortage anytime soon. But they sure the hell are trying very hard here in my town! It's going to really suck for the building trades if and when things do stop or even just slow way down."We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
-
01-20-2022, 01:32 PM #19418Registered User
- Join Date
- Apr 2021
- Posts
- 2,886
Like what? I don't see shit to buy there - 12 houses for sale now roughly in the county. Or is it all coming down the pipeline?
It would make a massive difference in many small popular mountain towns. In other places like SLC, I'd guess it would be a drop in the bucket.
-
01-20-2022, 01:40 PM #19419
Another thing about STRs is their predominant location in desirable areas (duh) so even a small percent of the total can have an outsized impact.
-
01-20-2022, 01:40 PM #19420
I'm pretty libertarian too, but homes should not be hotels, and neighborhoods should be communities not resort complexes.
I am cool with STR in high density condos, and I think a lot of resort towns (like mine) should encourage as many of those as possible. Give people the dream of having a weekend place in the mountains. Lets cut the sprawl and get some high rises in our mountain and lake towns.
But save SFH for people, families and the community.
-
01-20-2022, 01:43 PM #19421
STRs really squeeze the rental market in resort areas.
You’re welcome,
Captain Obvious
-
01-20-2022, 01:56 PM #19422Registered User
- Join Date
- Jan 2010
- Location
- your vacation
- Posts
- 4,738
-
01-20-2022, 02:24 PM #19423
-
01-20-2022, 02:27 PM #19424
-
01-20-2022, 05:06 PM #19425
9% of homes in US are short term rentals?
In simple macroeconomic terms, price is where supply meets demand. So you add a small amount of supply by ending short term rentals, prices should marginally go down. But what about the demand for short term rentals? Hotels aren't exactly hurting right now, and can't absorb that demand. The only solution is to build more housing, particularly small, dense, cheap housing.
Bookmarks