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More real estate doom and gloom

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
Hey, beat manhattan!

Must be the delicious, opaque, chewy mountain air


holy fuck at LA and SF

Makes sense I guess, we're over 1mil here


That list is missing a few new honky camps
1649958239653.png


bozemanhousing.JPG
 
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kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
So many threads this might fit in. @kidwoo, this one's for you.

would add some class to the joint





Vail is the most weirdest, most pretentious plastic 'town' I've ever been to in my life.


Funny that the town council actually seems like the bigger douche in the double douche, douche off.
 

Toshi

Harbinger of Doom
Oct 23, 2001
33,346
4,732
Ouch!
I've got another year to go at 1.5% before the fixed interest term ends on mine.
Hopefully shit calms down before then.
My mortgages:

Denver house (SFH, primary residence, conforming limit, conventional << 80% LTV): 1.75% x 15 years fixed, 0.1 point or so

Mountain house (SFH, second house, jumbo but conventional): 2.375% x 30 years fixed, 0.875 point paid for that rate

I'm definitely glad I went with fixed rate notes!
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
shit lots of us were bitching about that in like 2011 when the capital investment firms all started figuring out how to mass buy at foreclosure auctions and make offers for places that never got listed. That's when my neighborhood started disappearing. It's only gone up with bigger and bigger 'investors' every year. The fact that zillow became a thing AND became one of the biggest buyers should have been a huge red flag. If we had a functional gov't that is.

I think everyone knows this at this point. The ole Observer seems late to the party. This was going on on the front range and summit county over a decade ago.
 

mandown

Poopdeck Repost
Jun 1, 2004
18,109
5,281
Transylvania 90210
Nowhere is that consolidation more evident than in Charlotte — these firms now own one-quarter of all the rental houses in Mecklenburg County.

...

"I mean, look, if it got to the point where anybody had any level of concentration, whereby they were purchasing 100% of the housing stock, then yeah, that could be an issue," Howard said. "We are nowhere near that point."

He also bristled at the notion that these companies extract wealth from neighborhoods. Companies often pour thousands into renovations before renting out newly purchased homes to tenants for the first time, he said.


^^^ lolz
 

mandown

Poopdeck Repost
Jun 1, 2004
18,109
5,281
Transylvania 90210
What could go wrong?


The loan is available to Californians whose income is less than 80% of the Area Median Income in the county where the property is located.
That means the income limit will be different based on where people want to buy a house.
So for example, a Sacramento family can make up to $72,700 and qualify for the loan, while in Santa Clara County, the limit is $118,960.
In Los Angeles County, people would need to make no more than $68,880 to qualify for the program, according to the Fannie Mae Lookup Tool.
 
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kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
^that actually mimics most affordable housing programs already. That's no different than a HELOC taken out at the time of the purchase, just no interest.

5 years seems a little long if curbing the investor vultures is their goal with that.
 

rideit

Bob the Builder
Aug 24, 2004
16,933
7,085
In the cleavage of the Tetons
Well, the sickening bubble here continues to grow. The average median price of a home in Teton County just climbed to over $4 MILLION. (Is there anywhere higher in the US? I really don’t know).
Our neighbor’s basic-ass house just went on the market two days ago, and got four bids in the first few hours. We bought our true skid-shithole in ‘13 for a laughable amount, renovated it, and is now is the nicest/biggest on the block.
On the one hand, it means our tax bill is increasing by 30-50%. OTOH, we will be able to rent it at below market rates to a family we like when we retire, and live off of it.
SMDHJFCLOL


https://www.zillow.com/homedetails/4...94365523_zpid/
 

Jm_

sled dog's bollocks
Jan 14, 2002
15,102
6,525
AK
Well, the sickening bubble here continues to grow. The average median price of a home in Teton County just climbed to over $4 MILLION. (Is there anywhere higher in the US? I really don’t know).
Our neighbor’s basic-ass house just went on the market two days ago, and got four bids in the first few hours. We bought our true skid-shithole in ‘13 for a laughable amount, renovated it, and is now is the nicest/biggest on the block.
On the one hand, it means our tax bill is increasing by 30-50%. OTOH, we will be able to rent it at below market rates to a family we like when we retire, and live off of it.
SMDHJFCLOL


https://www.zillow.com/homedetails/4...94365523_zpid/
Would they be worth as much after fire?
 

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
32,321
7,413
The old timey times
Something is so fucking hinky about this, I just am not sure what.
yeah it probably sucks but it will likely be something to drive your home value up while simultaneously guaranteeing you'll never be able to buy another one if you sold it

oh wait yeah that still sucks....
 
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