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Started By
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re: These real estate markets may be on the cusp of a San Francisco-style affordability crisis
Posted on 3/18/22 at 2:06 am to Snoop Dawg
Posted on 3/18/22 at 2:06 am to Snoop Dawg
Posted on 3/18/22 at 3:39 am to Street Hawk
frick Montana is top of my list for places to move too
Posted on 3/18/22 at 3:44 am to tigerpimpbot
I'm in FL (gulf side) and I could easily sell my house for over $1M. But where would I go? It's stupid here, cash sales, no appraisals or inspections. People fleeing the North and foreign investors.
Posted on 3/18/22 at 3:57 am to Upperdecker
quote:
frick Montana is top of my list for places to move too
You can buy shite in east Montana for next to nothing. If you want to live near the mountains, you're gonna have to be fairly far away from Missoula and Bozeman. Bitteroot and Paradise Valleys are *moderately* priced - ie. around 10-15k an acre, which ain't cheap, but it's not stupid expensive. Butte, Anaconda, Livingston, Ennis, Three Forks, Manhattan, and West Yellowstone are still accessible to folks who aren't coming from the coasts.
Posted on 3/18/22 at 4:07 am to Snoop Dawg
quote:
Port Angeles? Lol.
Neah Bay rez finna eat…
Whales
Posted on 3/18/22 at 4:46 am to lynxcat
quote:
Expected to be 6-7 0.25% increases over the next year or so.
Wonder if Brandon can match the CD rates the Carter years provided?
Posted on 3/18/22 at 5:17 am to Street Hawk
Amazed so many Californians are flocking to Montana when it's so vastly different in culture and climate.
Posted on 3/18/22 at 5:36 am to Dragula
They’ll frick it up like a swarm of locusts
Posted on 3/18/22 at 5:37 am to Dragula
quote:
when it's so vastly different in culture
Ha! Not for long
Posted on 3/18/22 at 5:41 am to Street Hawk
We've had a FLOOD of Californians here. I have zero idea how the kids in my office are going to afford to purchase a new home. I've been here for over 20 years and we moved into this house 6.5 years ago. In that time, it's basically doubled in value.
Part of our recent renovation was to put in a basement kitchen on the anticipation that our almost 11 year old won't be able to afford a house or rent when he graduates in a few years.
Part of our recent renovation was to put in a basement kitchen on the anticipation that our almost 11 year old won't be able to afford a house or rent when he graduates in a few years.
This post was edited on 3/18/22 at 5:45 am
Posted on 3/18/22 at 5:50 am to GEAUXT
quote:
Ha! Not for long
Austin 2.0
Posted on 3/18/22 at 6:09 am to LSUtoBOOT
May never see interest rates back to 7-8% again. This country has too much debt. If interest rates were to return to these levels - that would be end game for this country, unfortunately.
Nice article explaining our predicament
U.S. Debt Clock
Nice article explaining our predicament
U.S. Debt Clock
This post was edited on 3/18/22 at 6:11 am
Posted on 3/18/22 at 6:15 am to liz18lsu
quote:
I'm in FL (gulf side) and I could easily sell my house for over $1M. But where would I go? It's stupid here, cash sales, no appraisals or inspections. People fleeing the North and foreign investors.
Yep. There’s nowhere to go. I’m definitely not leaving FL
Posted on 3/18/22 at 6:20 am to Zappas Stache
quote:
quote:
We will be back at 7% in two years. I’m betting on it. Literally.
Im Betting on the Cowboys to win a super bowl in the next two years.
I don’t get what you are trying to do here. Are you saying 7% is an unreasonable expectation? And you ask, what’s the point? These markets are behaving less and less efficiently and some sort of correction is inevitable. It’s interesting and worth talking about.
And to the OP, I predict we see 100 year mortgages in the US in the next 10 years. People will eventually not buy property to ever own it out right, this is happening in Europe already. These types of asymmetries will still have corrections though, particularly with the increased ability to work remotely. I know this board shots on LA and MS, and I’m not saying we will see many snowbirds from Washington state, but when you can get something of similar utility for 5-10% of the cost from a place like Bellevue, WA than let’s say Gulfport, MS, eventually that will be an enticing type of move. I’m speaking generally of course. Austin is another example, there are plenty of substitutes in a 300-500 mile radius that have more to offer relative to home value. These places will continue to tax the shite out of their base and the trend is away from reinvesting in infrastructure. I believe we are finally seeing something similar beginning between the north shore and New Orleans.
We aren’t quite there yet, and I’m not saying housing markets will crash. Most of the hottest markets have industry to provide at least some support for the growth. But with the disproportionate growth rates between wages and certain local markets, there will eventually be obvious arbitrage opportunities in markets that are relatively less hot. Will be very interesting to see where this goes.
Posted on 3/18/22 at 6:27 am to Street Hawk
Forget affordability issues, most of the inventory decrease is due to Californians leaving the state they fricked up to go frick up other states. Forget the border, we should have built a wall around California to keep them in.
Posted on 3/18/22 at 6:32 am to Irregardless
quote:
Paul, what’s your logic as to why they will continue to rise at the rates we’ve seen over the last few years
It was announced by the fed I believe. They're trying to combat inflation.
Posted on 3/18/22 at 6:33 am to Street Hawk
houses outside the city limits of Bogalusa are going for 375k. I'm not talking listed for 375k and they actually sell for 310. I'm talking sold for 375k. Recently renovated 2200sq homes.
Posted on 3/18/22 at 6:46 am to liz18lsu
quote:
I'm in FL (gulf side) and I could easily sell my house for over $1M. But where would I go? It's stupid here, cash sales, no appraisals or inspections
Pretty much every major city in US...
Posted on 3/18/22 at 6:53 am to Street Hawk
Port Angeles?
Oak Harbor?
Neither "city" has over 25,000 people, and they aren't close enough to Seattle to truly be suburbs.
Oak Harbor?
Neither "city" has over 25,000 people, and they aren't close enough to Seattle to truly be suburbs.
Posted on 3/18/22 at 7:09 am to TDawg1313
A lot of the crazy prices for dumps you see in CA and WA, etc is the land value not the run down house sitting on it.
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