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More real estate doom and gloom

ALEXIS_DH

ALEXIS_DH

Tirelessly Awesome
Jan 30, 2003
6,147
796
Lima, Peru, Peru
Pesqueeb said:
Median house price here is now more than DOUBLE what we paid in 2004, and I thought we got ripped off at those prices. I know I've been saying it for more than a decade now, but I do not understand how any of this is sustainable.

www.outtherecolorado.com

Colorado Springs cost of living surges to 23-year high | OutThere Colorado

The cost of living in Colorado Springs surged to a 23-year high in the first quarter as home prices continue to climb amid a hot housing market, a national survey
www.outtherecolorado.com www.outtherecolorado.com
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As long as they keep printing money and giving out free loans.... The sky is the limit
 
Montana rider

Montana rider

Turbo Monkey
Mar 14, 2005
1,759
2,212
Pesqueeb said:
I do not understand how any of this is sustainable.
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It's not unless wages are rising similarly -- I suspect (recent) rising values has more to do with all time low mortgage rates (aka free money.)

Once the #TrumpRecession picks up this fall after Covid 2.0 and the money machine stops going BRRR we should start to see a correction.

Flipside: there are still plenty of folks relocating to the Rockies from flat-landia
 
Toshi

Toshi

Harbinger of Doom
Oct 23, 2001
38,319
7,744
Correction hints appearing. See this new listing asking $600k for an on Mountain 2 bdr at Winter Park. Similar units were $700k asking as of January.

Real Estate & Homes For Sale - 6 Homes For Sale | Zillow

Zillow has 6 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.
www.zillow.com www.zillow.com
 
kidwoo

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
42,146
13,340
Squirtin ketchup n' mustard on charred flesh
But that's still like 150k over the zillow estimate which is pretty notoriously inflated.

How does the 'places where real people actually live' market look?


edit: just looked at our place in tahoe: pssshhh still complete and utter fiction. About 170k over what we paid in 2005 at just shy of peak insanity. This whole system is horseshit. Some rich fuck probably bought a bug out house from silicon valley screwing up comps.
 
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mandown

mandown

Poopdeck Repost
Jun 1, 2004
20,265
7,789
Transylvania 90210
I’m confused by LA prices. I’m doing well enough on the pay-scale, but I’m not comfortable buying anywhere I’d want to live. With a second income, things would be more comfortable. I don’t know how some peers are doing it unless they’re stretching the credit, which I won’t do. I’ve never been able to make a rent vs buy calculation come out in favor of buying. I also don’t need a house or good school district, so my motivation isn’t that of the average bear.
 
Nick

Nick

My name is Nick
Sep 21, 2001
24,065
14,713
where the trails are
mandown said:
I’m confused by LA prices. I’m doing well enough on the pay-scale, but I’m not comfortable buying anywhere I’d want to live. With a second income, things would be more comfortable. I don’t know how some peers are doing it unless they’re stretching the credit, which I won’t do. I’ve never been able to make a rent vs buy calculation come out in favor of buying. I also don’t need a house or good school district, so my motivation isn’t that of the average bear.
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are you LA born and raised, and what's the appeal to staying?
 
mandown

mandown

Poopdeck Repost
Jun 1, 2004
20,265
7,789
Transylvania 90210
Nick said:
are you LA born and raised, and what's the appeal to staying?
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Born and raised. The underground arts, music, and club scene was a big anchor that isn’t any longer. Family, friends, and support network is still a factor for me. The weather is too. Extremes in heat and cold are tricky with my nerve damage, but I’m sure I could adapt to most places. Now that my job has gone virtual-office, I’ve got more freedom to look.
 
Toshi

Toshi

Harbinger of Doom
Oct 23, 2001
38,319
7,744
johnbryanpeters said:
I allus wanted a place on a mountain with a small funicular setup with a platform big enough to haul my motor vehicle up...
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I would like a funicular. But if one isn’t going to drive about once up, why size it for the vehicle?
 
kidwoo

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
42,146
13,340
Squirtin ketchup n' mustard on charred flesh
Although my version of real estate doom and gloom is the exact opposite of what some of you mean, this shit cracks me up.



We've had a housing shortage for actual real human beings for 20+ years. But OOOHHHH now it's affecting the money bots! The horror!

1. I cannot wait for the next big winter when these fools can't find their car in the morning, have no power, no cell service and start snapping their fingers for some kind of 'service'. (welcome to the mountains bitches)

2. There are only 4 sushi places on the north end of the lake, you gon get bored real quick

3. Sorry about the hippies camping in your front yard (not sorry)

4. Yes that's a bear

5. No skrillex doesn't play here. What are your kids going to do for fake molly?
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
40,325
16,791
Riding the baggage carousel.
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
41,208
13,343
Portland, OR
Pesqueeb said:
Could be any house in my hood, including my own. Priced about the same too, which means it's fucking insane.
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Yeah, ours is supposed to be $425k+ right now and that's crazy considering what's owed on it. But if we chose to sell, where would we go for less than $500k? It's crazy to even say that. So we are likely going to refi and sit until it implodes again, I guess?

Ours is in phase one prior to the housing market crash in '07 and is considered "semi-custom" vs phase 2 and 3 that are straight 1 of 4 cookie cutters they filled the development with.
 
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