Real Estate Crash thread

[dunfree]

I'm talking about the current downturn due to rate increase and inventory being flooded because everyone is trying to get theirs. Not some hypothetical downturn in the future.

20 years you self fellating dumbfuck software developer that measures his cliffhucjs like his dick, I’m talking about the hailey article on this page. Why do rich people want to move where they can’t get what they want? Surely your Swiss living ass sees the illegals providing services? No wait, yer a smug entitled dipshit.

[dunfree]

interesting because why?
generation xers don't buy second homes
millennials don't buy second homes
and sure enough gen z will be wanting in on the second home market too

many homes I work in are in a trust or a family llc and the kids are part of the deal so it gets passed down easily

millennials are now forty years old and I know plenty who own a second home just because the media wants you to think they can't or don't buy homes isn't true

kids/trust property depend on them buying in

[Harry]

shoulda never moved to Montana then. It’s a special place, to say you don’t miss it all is very telling. (I grew up in WI and lived in MT too)

I think he meant he's not looking back and I get that. New chapter. Living in the present.

Bingo. Iceman understands.




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[muted reborn]

being psyched on your new life is great and a good way to live in the present. Saying there is nothing to miss about Montana means you never shoulda been there or you are on an insecure ego trip. It’s OK to be very psyched on WI and miss parts of MT too.

[concretejungle]

Every time I think you’re not a pedantic wanker you do shit like this. Jfhc, give it a rest.

[Toadman]

Northern Wisconsin.

This place is a sportsman’s paradise. I’m loving it here. Selling ski town 1-bedroom condo gets you dentist-level waterfront home. 38 years in Montana and not missing it at all.


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Have family out in Madison and Osh Kosh. Spent parts of summers out there as a kid. Was back there a few years ago and hanging in a college town like Madison definitely has appeal for a place to retire.

[ötzi]

I'm putting him back on the list.

[teleee]

Every time I think you’re not a pedantic wanker you do shit like this. Jfhc, give it a rest.

Yea same here. He’s a fucking tool.

I posted this on the Jackson Hole thread, but it seems really relevant here as well. I would strongly encourage people to read this.




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[Harry]

being psyched on your new life is great and a good way to live in the present. Saying there is nothing to miss about Montana means you never shoulda been there or you are on an insecure ego trip. It’s OK to be very psyched on WI and miss parts of MT too.

I lived for 38 years in Montana, enjoyed every minute of it. But I don’t miss it. Sorry that you are offended by that. It sounds like you are “on an insecure ego trip” due to your short time in Montana. You should have stayed longer like I did. Then made a killing on real estate, like I did, which is the point of this thread.

I’m set for life thanks to moving from MT to WI. If I stayed in MT I would have to keep working into my 70s. Retirement is very sweet, and I’m loving every minute of it. Just like Montana…




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[byates1]

Yea same here. He’s a fucking tool.

I posted this on the Jackson Hole thread, but it seems really relevant here as well. I would strongly encourage people to read this.




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Just bought it. Like cadallic desert, it'll probably leave me blown away at the real inner workings of these systems.

[teleee]

Just bought it. Like cadallic desert, it'll probably leave me blown away at the real inner workings of these systems.

I can only read a couple chapters at a time and then have to put it down because it pisses me off.


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[rideit]

I’m reading it right now. It is a bit eye opening, even though I have ‘known’ a lot of the stuff in the book. However, his presentation of how the ultra wealthy hide behind and economically benefit from ‘conservation’ has been fascinating.

[Mazderati]

[muted reborn]

Every time I think you’re not a pedantic wanker you do shit like this. Jfhc, give it a rest.

I thought we were all on the same page here as skiers - we like mountains no matter how far we live away from them and we miss them when we are not near them. But yes - I should shut up more.

I'm putting him back on the list.

you said i was far down on the list recently not off it, I was always on the list, right?

Harry, good luck in WI.

[Harry]

[URL="https://www.landsearch.com/properties/11715n-forest-road-174-hayward-wi-54843/2173455"]https://www.landsearch.com/properties/11715n-forest-road-174-hayward-wi-54843/2173455[/URL

Real close to me. I approve of other maggots, even muted, getting in on the ground floor the north woods island real estate boom.

Sweet island for less than the price of an unremodeled 400 sqft studio in the Hill Condos. (dumpy original condo development in Big Sky)



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[Danno]

Real close to me. I approve of other maggots, even muted, getting in on the ground floor the north woods island real estate boom.

Question: what are the laws of lake passage there? For ex, if I'm looking at that listing correctly, the property spans the lake (while it doesn't appear to include land on the east bank, the property line appears to go to the shore). So anyone going north on the lake has to go through your property (or possibly, technically speaking, above your property). Is there a right of access over water? Can someone drive their boat through that area?

[Mokomahonah]

Some millennials are doing great. Others not so much. I could have not gone to grad school and started working full time right outta college, but I didnt. I had the option, luckily, and made the choice to fuck off and ski. Maybe I could have saved up enough to have mine. But life is about choices ain't it. The housing insecurity in this town seems to really mess with the lady friend, maybe it should bother me more but - c'est la vie. At least the memes are commiserative.

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[Mustonen]

Question: what are the laws of lake passage there? For ex, if I'm looking at that listing correctly, the property spans the lake (while it doesn't appear to include land on the east bank, the property line appears to go to the shore). So anyone going north on the lake has to go through your property (or possibly, technically speaking, above your property). Is there a right of access over water? Can someone drive their boat through that area?

Typically, people are allowed to move around on the water but they can’t stay - e.g. no mooring. Unless it’s otherwise defined, like in that listing, property lines go down to high water mark and then they point to the center of the lake such that the lake would look like a weirdly cut up pizza, slices proportional to frontage. Islands are owned by the closest landowner, generally, or by whoever owns the slice of pizza it would sit on (usually the same thing). At least in Michigan. I wonder if the way that property is cut up actually aligns with riparian code. Practically, nobody knows the rules anyways and everybody is playing from a different rule book and nobody actually wants to be accountable for whatever is going on on the bottom of the lake. The case law is somewhat interesting…. [NOT a lawyer, just spent some time reading up on the subject and I’m likely wrong.]

Family property is on a northern lake with deep drop offs all around, which means you’re enjoying dinner on the deck with your family and a boat with a few guys fishing creeps around alongside close enough that they’d be casualties of my fork trebuchet if a food fight broke out. Makes for some odd scenes…. The one sandy section we have is on the edge, and the neighbor owns a triangular piece such that when the water level drops a few feet he assumes he’s picked up a few dozen extra feet of beach front and tries to park docks in front of one of our houses, hence the reading up on the topic referenced above.

ETA: The Great Lakes are a different kettle of fish altogether, of course. On those you have right of passage on land or water, meaning you can take a walk on the beach and not be trespassing as long as you keep walking. This is sometimes confused with inland lakes too, and people will walk through your backyard as if they have every right to. First world problems.

[ötzi]

you said i was far down on the list recently not off it, I was always on the list, right?

Yeah actually I was gonna edit that to say "I'm moving him up the list" but the damn board was so slow and wonky I gave up on it, figuring only a pedantic fucker would even notice.

[dunfree]

Question: what are the laws of lake passage there? For ex, if I'm looking at that listing correctly, the property spans the lake (while it doesn't appear to include land on the east bank, the property line appears to go to the shore). So anyone going north on the lake has to go through your property (or possibly, technically speaking, above your property). Is there a right of access over water? Can someone drive their boat through that area?

Do you want him shot?

Wisconsin state is supposed to have title to natural lake bottom, but this isn’t well reflected on survey documents or titles

[Harry]

Question: what are the laws of lake passage there? For ex, if I'm looking at that listing correctly, the property spans the lake (while it doesn't appear to include land on the east bank, the property line appears to go to the shore). So anyone going north on the lake has to go through your property (or possibly, technically speaking, above your property). Is there a right of access over water? Can someone drive their boat through that area?

What mustonen said.

Plus it might have to do with how the lake was made. Is it a natural lake ? That might make a difference. My lake was made back in the logging days of the late 1800s. The deed for my island specifically assigns “flowage rights” to a logging company. Not sure exactly what flowage rights are, but I don’t have them.

The same company appears on the deed for my grandfather’s old cabin, only in that case they own the “logging rights”. My great-grandfather was the towns Methodist preacher and he saved a small grove of old growth pines for himself. I assume that pissed off the logging company, but who are they to argue with a man of god ? So they slapped those “rights” on his deed. None of the neighbors have that. They also don’t have any big trees….

Said company was “disestablished “ in 1901 and forfeited all their rights, so I’m not worried about it. The old growth trees fell down in a windstorm a few years back and flattened my uncles cabin, and the county took over the old logging dam that regulates the water level in the lake. It’s been upgraded several times over the years and is a fairly modern dam now.


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[summit]

Skewing them in what direction?

It's gonna be interesting to see what happens to vacation area real estate when the boomers get serious about dying off.

At worst it goes flat for a bit, maybe down a bit in non-top-tier resorts or in some of the blown-up bedroom communities an hour away.

Any high or medium tier resort area, there is so much pent up insatiable demand from around the entire planet being pointed into to small static markets.

Boomers might die, but the population isn't shrinking.

[Whiteroom_Guardian]

Holy shit, you're not kidding. This place has an asking price that is significantly more than my fairly-recently-built house: 21 Sitting Bull Road, Big Sky, MT 59716

I like the "we ripped it down to studs!" selling point.

Having been inside, bought or sold many of these condos for my clients thats just a stupid ass price. In reality the last little "peak" on those was about $485k this past Jan/Feb. DOM on those current listings is like 40-130.

[yeahman]

Having been inside, bought or sold many of these condos for my clients thats just a stupid ass price.

Absolutely fucking ridiculous for one of those tiny units. Let us know what it eventually goes for.

I will say the new siding on those buildings makes a huge difference in their curb appeal. I looked at some units a few years ago but could never get past the massively peeling paint.

[yeahman]

Meanwhile this is what 2 million will get you on the Rocky Mountain Front. I love this area and that river.

https://helena.craigslist.org/reb/d/...514404241.html