More real estate doom and gloom
- Thread starter Toshi
- Start date
23.6% of All US Dollars Were Created in the Last Year
Money Supply Up Over $3 Trillion Since March Greatest Year-Over-Year Money Supply Surge in History
www.thestreet.com
Almost 1/4 of all US dollars were printed last year.
Assets (houses, stocks) will continue rising as long as the money supply keeps going.
Brrrrrrrrrrrrrrrrttt23.6% of All US Dollars Were Created in the Last Year
Money Supply Up Over $3 Trillion Since March Greatest Year-Over-Year Money Supply Surge in History
Almost 1/4 of all US dollars were printed last year.
Assets (houses, stocks) will continue rising as long as the money supply keeps going.
Its sustainable as long as the US can export its inflation, which appears it can still do after the latest brrrrrtttt.
I would be surprised if the Fed wasnt surprised they could pump that much money with no local inflation yet.
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And second homes!
Thank gawd for the rona.
www.koin.com
Economist: Oregon real estate more affordable amid pandemic
Home prices in Oregon have risen steadily over the last five years, but an economist says the state’s residential real estate market actually became more affordable during the pandemic.
www.koin.com
Portland real estate investment startup moves HQ to Austin
“Austin has a number of benefits such as pro-growth economic policies."
www.oregonlive.com
good riddance fuckwits!Portland real estate investment startup moves HQ to Austin
“Austin has a number of benefits such as pro-growth economic policies."
Enjoy your power grid and storm drainage!
edit: and your nazis!
Texas-based hate group source of 80% of all U.S. racist propaganda tracked in 2020
Texas-based group Patriot Front was responsible for 80% of racist, antisemitic and other hateful messages tracked in the U.S. by the Anti-Defamation League last year in...
m.sacurrent.com
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From an adjacent community. Y'all think I'm the only one. Wasn't me, I swear.
STR = short term rental/air bnb shit
I really do appreciate the use of both red and black, presumably from two different parties. Magnifique!
STR = short term rental/air bnb shit
I really do appreciate the use of both red and black, presumably from two different parties. Magnifique!
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.
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 surveywww.outtherecolorado.com
2bd 1 bath 900 sq ft rancher next door has sold twice in the last year, second time being just a couple weeks ago for a flabbergasting (at least in my little working class hood) for 24K over asking price. Damn near 25% increase in 8 months. I *still* do not understand how any of this is sustainable.Things should get as summer approaches
Zillow is showing estimates on my street that are starting to approach mid 400k. Half million dollar home on my street? Fuck right off with that shit. Jesus Christ......
not people buying homes
investors buying properties
investors buying properties
I assume.
But jesus, what's rent gotta be on that place to make an "investor" even break even? 1800 bucks a month, to rent? This isn't Tahoe. It's a shitty military town with some small amount of secondary tourism thrown in and no other real economy. I don't know who these people are and where they work that they can afford that as rent, never mind a mortgage on such a tiny little shit box of a house.
Don't give me that shit, you guys are just down the hill from CANON CITY! Those prisons are gorgeous. Was just a matter of time before the sprangs sprung. I'm familiar with the springs. Some of the most poorly lit and trash laden parks in the west because taxes are satan (who you can incidentally have removed from your soul in one of many arenas of the lord as seen on tv). With the churches and bases it's actually really similar to where I grew up.
It's not necessarily someone like a family buying places to rent the mortgage. Could be an investment firm, could be a trust. Might just be a family with too much money just buying it to sit on like the other two.
My domestic non-platonic partner's mom lives in canon city btw. I'll holler next time I'm out
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My point was only that I don't believe this town has the sort of economy to support such inflated housing and rental prices.
I mean, it's no Penrose!
Hit me up, yo.
Most cities have a GIS system that lets you look up who the owner is.
Proximity to monarch pass/salida always seemed equivalent to denver-summit county with traffic concerns. I was being sarcastic but the 'just a matter of time' thing I really do believe. Denver has become almost unlivable if you moved there for outdoor access. Everyone wants to do the same shit at the same times.
I'd rather live in the springs and go ride the desert with the hicks to be honest.
You're becoming a bedroom community for the Denver Tech Center. Congrats.
Once they finish that Greenland project the commute will only be an hour.
Some 300 pound cow in front of me slammed her seat back on the tarmac, spilling my coffee all over me. Good fucking morning to you too, heifer.
El Paso county still shows the PO
I didnt think manatees could survive in Jackson
It's getting to be that way here, real fucking fast. It's a huge part of the reason I chose the schedule I do. Do anything outside on a weekend? Fuuuuuuuucck that.
This. It's rare I try to do any outdoor shit on the weekend any more, at least as far as "day trip" stuff goes.
Although I still have some really local stuff that has, for the most part, remained off the radar. Which is nice for mental health if nothing else...
Oops, wrong thread
We weren't gonna tell you because it's more enjoyable to watch than real estate
Sleep deprivation is a helluva drug!
The trajectory of housing prices defies logic and continues to do so. *Supposedly* prices are up 20% over last year, with another 10% increase expected in 2021. It has gotten to the point where my wife and I, who would be considered solidly middle class, have more or less been priced out of the single family home market, and even the price of a 3 bd/2ba townhomes/condo will consume 45% of our take home pay. I have no idea how these people are buying these homes for $80K over asking AND still have enough for a down payment.
Then again who knows, maybe I'm just deluded and far less financially stable than I believed. Either way, this can't be healthy for the future of our economy. You can't have the grand majority of the populace spending 50% of their money on housing and still expect a consumer driven economy to grow or sustain itself.
Wouldn't surprise me one bit. Just another way to shovel wealth upward.
hehheh
burn bitch burn
I gotta wonder who specifically is gonna crash with this next one and which welfare queen bank we're going to bail out with entitlements.
How many times does rideit scream hello into
When I was looking for a house I was shocked by how little was being borrowed to buy one. I think the local average was 50% down. The first house I bid on was beat by $100,000 with a cash offer. The 20 something couple that moved in then gutted the house I assume spending the $100k they had left over.
Can only guess someone's parents mortgaged their home in the bay area and gave the kids their inheritance early. Or perhaps just rich AF.
KId I work with parents bought his house for him with cash.
Must be nice. I've been saving my whole life expecting to have to take care of my parents at some point.
When I was looking for a house I was shocked by how little was being borrowed to buy one. I think the local average was 50% down. The first house I bid on was beat by $100,000 with a cash offer. The 20 something couple that moved in then gutted the house I assume spending the $100k they had left over.
Can only guess someone's parents mortgaged their home in the bay area and gave the kids their inheritance early. Or perhaps just rich AF.
KId I work with parents bought his house for him with cash.
Must be nice. I've been saving my whole life expecting to have to take care of my parents at some point.
Where are you looking? Gonna guess North of Boston and if so JHFC.
I mean.....seattle/bellvue is just as bad as the bay area aint it? Maybe not silicon valley but everything else. And manhattan, and los angeles and fill in the blank________ mountain town. I think of seattle being like top 3 concentrations of wealth just like the bay.
If I could convince my significant other to quit worrying about stupid things like "medical care" and "food" I'd already live out in the middle of nevada by now. Just sit on my porch with a rifle and shoot at california plates as they drive by on their way to moab. I hear that's actually a county job in some of the places out there.
Now Skeeter, they ain't hurtin anyone.
Seattle is a bargain compared to say San Jose or Boston or hell even Bellevue. It would piss him off, but I am confident Tim could find a place here.
Just because I know it pisses off people in seattle who seem so obsessed with what's "REAL SEATTLE"..................bellevue is seattle. Yeah I said it. Come at me bros.
We just came up with the general douche zone "bay area". What do you guys use? Seatac? Tacoma isn't a city though it's just a traffic jam that smells like low tide next to an applebees. What do you call that mess up there that includes you know, the whole mess?
We just came up with the general douche zone "bay area". What do you guys use? Seatac? Tacoma isn't a city though it's just a traffic jam that smells like low tide next to an applebees. What do you call that mess up there that includes you know, the whole mess?
Also worth pointing out that part of this has a lot to do with the Trump tax breaks trickling down. You save $2k, someone else gets to buy their third home.
"buffy thought it would be a good investment, and the tacos in town are to die for!"
Your not wrong, same county, and only 10 minutes away. But most of Seattle was developed pre-war and pre-interstate so densely packed houses on small lots with a number of neighborhood main streets. The East side was all post war suburban development. Bigger houses on bigger lots in housing developments with strip malls. There is also a big fucking lake separating the two.
This is the Puget Sound, a rolling clusterfuck from Olympia to Bellingham.
Real Estate in Tacoma will be cheap after Rainier erupts. Everying thing will be cheap after Cascade fault goes.
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