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  1. #23001
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,069
    Quote Originally Posted by 4matic View Post
    $200k mark down after one month. Great location too. SF price dropping fast

    https://www.zillow.com/homedetails/5...ource=txtshare
    Not quite San Fran, but 1.50 hours to the Wood is a bonus and $250 sq ft is a fuckin steal in my simple mind.
    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.

  2. #23002
    Join Date
    Oct 2005
    Location
    Idaho
    Posts
    10,953
    $250/ft seems to be pretty damn good most places. What's wrong with that house?
    Quote Originally Posted by Benny Profane View Post
    Well, I'm not allowed to delete this post, but, I can say, go fuck yourselves, everybody!

  3. #23003
    Join Date
    Dec 2010
    Posts
    3,896
    Quote Originally Posted by Conundrum View Post
    $250/ft seems to be pretty damn good most places. What's wrong with that house?
    It gets Arizona hot there.

  4. #23004
    Join Date
    Mar 2006
    Location
    CO
    Posts
    1,797
    Quote Originally Posted by liv2ski View Post
    Not quite San Fran, but 1.50 hours to the Wood is a bonus and $250 sq ft is a fuckin steal in my simple mind.
    Fresno pricing but in a much better location. Still have to deal with ridiculous CA taxes though.

  5. #23005
    Join Date
    Mar 2006
    Posts
    19,814
    Quote Originally Posted by californiagrown View Post
    It gets Arizona hot there.
    It does. Sun angle not quite as intense though.

  6. #23006
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,069
    Quote Originally Posted by ColMan View Post
    Still have to deal with ridiculous CA taxes though.
    The thing is CA taxes are not burdensome once you have owed a home there forever thanks to prop 13. My property taxes are .0013 X value for the year. You're never going to get that in CO or likely any other state. Disregarding that, per the below chart the total tax burden is really no big deal in my mind:
    https://wallethub.com/edu/states-wit...x-burden/20494

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    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.

  7. #23007
    Join Date
    Oct 2006
    Location
    MA
    Posts
    7,017
    Is there a Calc on that chart? Cali income tax varies obviously into double digits. Sales tax high single digits.

    Taxes in California are high. Don’t mean to be controversial but they are.
    Decisions Decisions

  8. #23008
    Join Date
    Jun 2020
    Posts
    5,529
    Quote Originally Posted by Brock Landers View Post
    Is there a Calc on that chart? Cali income tax varies obviously into double digits. Sales tax high single digits.

    Taxes in California are high. Don’t mean to be controversial but they are.
    California taxes are about average for people of average income/wealth. It’s the high taxes on high earners where it stands apart.

    https://itep.org/whopays-map/

  9. #23009
    Join Date
    Mar 2006
    Posts
    19,814

    Real Estate Crash thread

    Sales going to plumb the 08 lows next year.

    https://mobile.twitter.com/EPBResear...86205437411328

  10. #23010
    Join Date
    Nov 2005
    Location
    Down In A Hole, Up in the Sky
    Posts
    35,361
    Here that just means the wealthy will buy an expensive property, and also the one next to it for privacy. And I'm not joking.

  11. #23011
    Join Date
    Jun 2020
    Location
    in a freezer in Italy
    Posts
    7,183
    No idea how accurate this is but Global Real Estate Bubble Risks: https://www.ubs.com/global/en/wealth...ble-index.html

  12. #23012
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    3,716
    As far as I am aware, almost every developed country in the world except the US has adjustable rate mortgages as default and fixed rate mortgages (in the way that Americans use that term) are exceptionally rare outside the US.

    Canada, UK, Australia, eurozone countries, etc are all adjustable rate mortgages that will adjust to new monthly payment amounts as central bakes raise rates.

    Worth noting that what Canada calls a fixed rate mortgage is not a fixed rate mortgage by US definitions.

  13. #23013
    Join Date
    Mar 2022
    Location
    Deep in the heart of....
    Posts
    701
    Quote Originally Posted by Kevo View Post
    Worth noting that what Canada calls a fixed rate mortgage is not a fixed rate mortgage by US definitions.
    5 year terms and then you refinance. So yeah, unlike your 30 year slogs but still fixed for a good portion.

    A big problem here is the qualifying criteria for a mortgage is essentially a very large, very mobile goalpost.

  14. #23014
    Join Date
    Mar 2006
    Posts
    19,814

    Real Estate Crash thread

    Good news. STR hosts switching to LTR. Too late and too greedy:


    Airbnb hosts say bookings ‘fell off a cliff’ amid influx of new vacation rentals and rising prices
    'We went from 80% [occupancy] to zero,' one host says in a common refrain among property owners who say they saw a sudden decline in the summer months
    Read in MarketWatch: https://apple.news/AdrYD7GfHS-O23tniF6j7fQ

  15. #23015
    Join Date
    Dec 2010
    Location
    Last Best City in the Last Best Place
    Posts
    7,272
    ^^Excellent news.

  16. #23016
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    30,885
    Quote Originally Posted by Kevo View Post
    As far as I am aware, almost every developed country in the world except the US has adjustable rate mortgages as default and fixed rate mortgages (in the way that Americans use that term) are exceptionally rare outside the US.

    Canada, UK, Australia, eurozone countries, etc are all adjustable rate mortgages that will adjust to new monthly payment amounts as central bakes raise rates.

    Worth noting that what Canada calls a fixed rate mortgage is not a fixed rate mortgage by US definitions.
    You can get a fixed rate but the % charged is higher depending on how long of a fixed rate you choose and the payments are amortised over 25 years or whatever you chose, my last mortgage was amortised over 30 yrs so I didnt have to get a job while waiting for mom to die

    Variable rate mortgages have been very popular cuz they were cheaper when rates are low but now you thro in rising rates/ inflation/ yada/ yada some people may now might have mortgage payments they can't afford when they have to remortgage

    but nobody could have foreseen this
    Last edited by XXX-er; 10-21-2022 at 09:30 PM.
    Lee Lau - xxx-er is the laziest Asian canuck I know

  17. #23017
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,069
    Quote Originally Posted by Kevo View Post
    As far as I am aware, almost every developed country in the world except the US has adjustable rate mortgages as default and fixed rate mortgages (in the way that Americans use that term) are exceptionally rare outside the US.

    Canada, UK, Australia, eurozone countries, etc are all adjustable rate mortgages that will adjust to new monthly payment amounts as central bakes raise rates.

    Worth noting that what Canada calls a fixed rate mortgage is not a fixed rate mortgage by US definitions.
    I was reading the Guardian and the article was shitting its pants over Aussie real estate, due to the exposure to adjustable rate mortgages.
    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.

  18. #23018
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,069
    I guess rates over 6% will kill business? Who knew?

    Click image for larger version. 

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    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.

  19. #23019
    Join Date
    May 2008
    Location
    On a genuine ol' fashioned authentic steam powered aereoplane
    Posts
    16,804
    We are seeing STR being advertised as "medium term" and some as long term in the MLS now. Bozeman only so far. I have clients with STR properties in Big Sky and wondering if they are already seeing decrease in their advanced bookings yet.

  20. #23020
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    19,069
    I sure hope so, as price increases this year of 50% in Mammoth from last year are dumb and annoying.
    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. #23021
    Join Date
    Dec 2010
    Location
    Last Best City in the Last Best Place
    Posts
    7,272
    Stay in a hotel. Fuck STR.

  22. #23022
    Join Date
    Dec 2003
    Location
    Seattle
    Posts
    33,546
    Quote Originally Posted by 4matic View Post
    Good news. STR hosts switching to LTR. Too late and too greedy:


    Airbnb hosts say bookings ‘fell off a cliff’ amid influx of new vacation rentals and rising prices
    'We went from 80% [occupancy] to zero,' one host says in a common refrain among property owners who say they saw a sudden decline in the summer months
    Read in MarketWatch: https://apple.news/AdrYD7GfHS-O23tniF6j7fQ
    Huh.

    I had the most rentals I've ever had this summer.

    Ski season bookings coming in strong too.
    Quote Originally Posted by Downbound Train View Post
    And there will come a day when our ancestors look back...........

  23. #23023
    Join Date
    Oct 2007
    Posts
    12,609
    Quote Originally Posted by PNWbrit View Post
    Huh.

    I had the most rentals I've ever had this summer.

    Ski season bookings coming in strong too.
    Same here.

    Crazy how expensive it is to go on vacation to other ski towns now, glad we have options here because we might not get to take a trip elsewhere this season.

  24. #23024
    Join Date
    Mar 2006
    Posts
    19,814
    Quote Originally Posted by PNWbrit View Post
    Huh.

    I had the most rentals I've ever had this summer.

    Ski season bookings coming in strong too.
    Like weather vs climate

  25. #23025
    Join Date
    Mar 2008
    Location
    the ham
    Posts
    13,370
    Also, all real estate is local isn't just a cliche

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