Real Estate Crash thread

[fastfred]

duh
I am
was making 8.50 an hr and rooms were running 400 a month when I was a young man
it was a struggle
my 730 dollar a month mortagage is killing me but I need it for the write off
I love tourists

ski towns shouldn't be easy to live in then every fuck face would live here

[neckdeep]

duh
I am
was making 8.50 an hr and rooms were running 400 a month when I was a young man
it was a struggle
my 730 dollar a month mortagage is killing me but I need it for the write off
I love tourists

ski towns shouldn't be easy to live in then every fuck face would live here

Yeah, you definitely sound just like him. You're like the ski town version of "old economy steve".

[Foggy_Goggles]

Well in the county next door, its a dirty free for all with more freedom. Mostly its just about the same. STRs are just one of the issues.

[Tips^Up]

National Association of Realtors is BY FAR the largest political lobby. Pay attention to the letters below.

NRA 2022 political lobbying budget: $2.5M
NAR 2022: $81.7M

The next largest behind NAR is the US Chamber of Commerce, then Pharmaceutical Research & Manufacturers of America, at only $29M.
https://www.opensecrets.org/federal-...ers?cycle=2022

[Meadow Skipper]

ski towns shouldn't be easy to live in then every fuck face would live here

That’s a pretty good point. Sig worthy too.

lol

[MyNameIsAugustWest]

This thread is fucking hilarious.
I live in a resort town/seasonal area and can’t stand the tourists. Yet I’m going to brag about my triple digit equity gain.



Sent from my iPhone using TGR Forums

Thinking this is directed at my post...you missed every point but maybe because I suck at writing.

Don't hate tourists...in the town where I live, I'll always be thought of as a tourist even though I was born in this tiny state. Although I'm good friends with a lot of non-skiing locals, I'm still an outsider. I'm ok with that.

Not bragging about any equity gains because equity gains are only realized when selling. And I clearly said I ain't selling. If the market crashes (it's heading that way right now here) my potential equity gain will go back to zero. Not taking the blame for that one. You can't fucking read.

The real issue is the lack of housing for the locals. Assholes from Greenwich or Westchester buy up every property near ski areas (many sight unseen) around here and turn what used to be affordable housing for local folk into STRs and never set foot in the area. On the upside, I have a local friend that quit bartending to run her own STR cleaning service. She's making bank.

[fastfred]

Yeah, you definitely sound just like him. You're like the ski town version of "old economy steve".

hell yeah
my hoa does not allow accessory apts or dwellings
otherwise yes I'd turn my shed into a a tiny home and rent it for $1,200 a month

the same local gov't ten years ago fought homeowners left and right over accessory apts it was a game you had to play to make an accessory apt not an accessory apt
today the clown car county commisionar cows are now throwing tax dollars at homeowners to create accessory apts in their homes

30 years ago the local gov't shot down and made it so difficult for any hotel developer to build a hotel that most of them just walked away after getting stonewalled by planning
so we end up where we are today by poor planning and continued with gov't help uncontrolled growth
thats what we have today in scummit county even though the deny that business owners run the gov't here and business owners want money

resort towns can't get out of their own way

[AdironRider]

That forest service guy meme leaves out he was probably making like 3 bucks an hour back in then. Housing is expensive, always has been, always will be, because literally everyone needs it. There have also always been second home owners, and for decades, that system worked ok.

But fuck the WFH transplants or STR investors who fuck with the market economics, bringing out of market wages into the realm (while refusing to pay a living wage to the trades or local service industries), then try and act all virtuous and talk about the affordable housing problem because it took them 45 minutes to get their elk steaks served or bitch about the cleaner blowing off their 2 hour window to flip their rental on a Saturday when it snows.

[Name Redacted]

AMI went up 30% here to $77k due to WFH. Now that's messing with rents and affordable housing eligibility since that's how they calculate them.

[neckdeep]

hell yeah
my hoa does not allow accessory apts or dwellings
otherwise yes I'd turn my shed into a a tiny home and rent it for $1,200 a month

Nah, bro, I said nothing about converting it into a "tiny home" with actual fixtures. No need to expend any of your precious money. Be a real old economy Steve and gouge those Gen Z workers to rent an unpermitted, waterless storage shed. It's like a jail cell but with no toilet. You can add some dumpster quality furniture and tell yourself you are doing a real mitzvah.

[fastfred]

That forest service guy meme leaves out he was probably making like 3 bucks an hour back in then. Housing is expensive, always has been, always will be, because literally everyone needs it. There have also always been second home owners, and for decades, that system worked ok.

But fuck the WFH transplants or STR investors who fuck with the market economics, bringing out of market wages into the realm (while refusing to pay a living wage to the trades or local service industries), then try and act all virtuous and talk about the affordable housing problem because it took them 45 minutes to get their elk steaks served or bitch about the cleaner blowing off their 2 hour window to flip their rental on a Saturday when it snows.

yup blame WFH another good point out of the playbook for jaded locals who can't get what they want for nothing
WFH has been going on in Scummit county since I got here

the issues at hand
are popularity
uncontrolled growth (but if you put the brakes on it you end up getting Aspened)

[neckdeep]

That forest service guy meme leaves out he was probably making like 3 bucks an hour back in then. Housing is expensive, always has been, always will be, because literally everyone needs it.

Not really. And you know that. This place morphed from the anti-Jackson into Jackson Jr in less than a decade. Used to be, every September-October, a new crop of lifties, one season wonders and various eccentrics would roll into the Valley and they'd all be settled by ski season. In just 5 years, you simply cannot do that anymore and Targhee has to provide dorm rooms to get any seasonal workers. There used to be a seasonal and LTR rental market and Broulims hired locals. Now there is virtually zero LTRs and Broulims has to bus in its workers from 50 miles away. In 10 years, the same house that rented in the $1200 range now rents for $4000, if you can find it, have $12,000 to spare and pass the interview and background check.

[AdironRider]

Dude, we are saying the same thing. When a WFH transplant comes in and says, hey that house is cheap as fuck, I'll toss on another 50k on the offer to seal the deal it causes problems to local market economics.

But I would probably disagree that Broulims hired locals. They've been bussing in momo kids from Rexburg and IF since they started.

[Foggy_Goggles]

Basically, ya'all are right. We all just have a different twist on reality but there will never be anything that looks like a single solution.

All I ask around here is for some transparency and honesty surrounding the state of things. I rally hard against those masking there own bullshit entirelment with a call for sympathy.

Last month I saw the waterworks come out from a Super Karen second homo about how an apartment building in her neighborhood would ruin her life with crime, traffic, unsavory dogs and so on. She's "painted wall and laid flooring" to make a better life for her family. Basically recruited a neighborhood who's brother is a retired Denver cop to provide testimony that the poors are a problem like this is Oakland. Hey, get fucked!

The reasons I'm passionate is I love this place. People are across the board, pretty fucking awesome. There is a crew of primo y primo that I've known forever. They mostly work cleaning and maintenance for a prop management company. My bestie. Is their boss. They get a free ski pass. 2 yrs ago, we rustled up a pile of equipment for them. Once every couple a weeks, we go out skiing for the afternoon. Nobody has more fun than us. I need more of that energy so I try to keep it around.

Sent from my Turbo 850 Flatbrimed Highhorse

[yeahman]

My cousin who sells real estate and lives at Snoqualmie Pass told me the other day that sales to the WFH crowd have almost entirely dried up.

[muted reborn]

My cousin who sells real estate and lives at Snoqualmie Pass told me the other day that sales to the WFH crowd have almost entirely dried up.

Stayed with a friend last week that owns 3 Air BnBs an hour from Jackson and says the same - bookings are down because remote workers are staying home (or not full time remote anymore and have to be in the office x amount of days a week now) or maybe they got fired from the massive round of tech layoffs.

Also you guys have been talking about the same basic things about resort towns for endless pages for years - we get it.

[Foggy_Goggles]

So prices will be going down and more LTRs are gonna be available? Sweet! But when, should I sell how house now? What about increased competition for my business?

Sent from my Turbo 850 Flatbrimed Highhorse

[Danno]

Also you guys have been talking about the same basic things about resort towns for endless pages for years - we get it.

I think this thread and the I-70 bitch thread are the top two TRG threads for recycled discussions. But what else are we gonna talk about?

[skaredshtles]

I think this thread and the I-70 bitch thread are the top two TRG threads for recycled discussions. But what else are we gonna talk about?

Srsly. No skiing and the trails are all fuckin' muddy right now.

Weeds are growing really well, though.

[Danno]

Weeds are growing really well, though.

no shit. and my landlord expects me to, you know, actually pull the weeds. who's got time for that shit.

[skaredshtles]

no shit. and my landlord expects me to, you know, actually pull the weeds. who's got time for that shit.

WTF? One of the reasons to rent is so you DON'T have to do that kind of bullshit.

[XXX-er]

sounds like you need a gardener

[fastfred]

sounds like you need a gardener

they can't afford to live hear to you gotta do it yourself
we gen-xers arent the pull yourself up by the bootstrap crowd
we want everything handed to us cheap and easy

[liv2ski]

Yup, if lease made yard Danno's problem, get a gardener.

[zion zig zag]

But I would probably disagree that Broulims hired locals. They've been bussing in momo kids from Rexburg and IF since they started.

I appreciate the Rexburg-ites working as cashiers at Broulims. My wife and I have had the strangest interactions with them over the past few years, like truly bizarre behavior.

Speaking of, what do they do when the road is closed? Do they have a dormitory for them in the back somewhere?