Friend of mine grew up in Telluride, CO when It was an old miners' town with quaint old Victorian houses—then it became a hipster ski resort. Cannot go home again. Heartbreaking.
Posted on 05/23/2021 6:39:59 AM PDT by deport
My Arizona winter home has more than doubled in value in less than seven years. I may just have to let it go before everything comes crashing down.
With so many leaving how is it that market is holding up?
” If five-year term adjustable rate mortgages were used instead, as is very common in Britain, there would be no point in overpaying for a house to lock in a low interest rate.”
Here they aren’t even doing the math. They are convinced beyond shadow of doubt because everyone else is doing it that they are buying cheap money with an inflation protected payment.
It is just one but I drive by a partially finished house nearly every day that has apparently run out of money and credit. Interested to see what happens.
That boat has left the dock and you can’t even see the smoke over the horizon.
Yup. I want to see what happens when that Loaf From Home job disappears one way or another, and it will. Replaced, restructured, relocated or downsized it doesn’t matter. Hardly any jobs last long enough to make a lifetime of them. Not anymore. Maybe they figure on just changing jobs and continuing to Loaf From Home. I see long dry spells in that strategy so they better have two LFH jobs to count on one most of the time.
I see stupid mansions all the time have multiple birthdays on the market. Same thing can happen to over bought houses of any size. Small towns are bargains and depressed markets because there is hardly any real native money there.
We are going to see air head back to the simple life people bail within just a few years. I have seen it with the best intentioned and hard working people here in the Ozarks. Prepping and living off the land is really hard work and you don’t just haul off and take a vacation from the critters since they don’t have thumbs and cant’ feed themselves.
My sis got all excited because area values are going up so much. Same thing, where would you go and what would it cost to replace. if the values where you choose to go are not going up think about why not. Duh.
And you are still in a city where the jobs are and where there are people who can afford the house you just bought.
Moving to the bucolic life of a small town or rural area is probably best considered a one way trip. Better like it there a whole lot and be able to make it there after you move because you are probably stuck for a long time unless you live like the locals.
Not all states have such laws.
Paying $42,500 in 1956 for a Florida home would have been off the charts... You could buy a 4 bedroom 2 bath Florida house in ‘56 for $9,000. With no down payment.
“extraordinary”?
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds
https://www.gutenberg.org/ebooks/24518
Volume I.
Contents.
The Mississippi Scheme.
The South-Sea Bubble.
The Tulipomania.
The Alchymists.
Modern Prophecies.
Fortune-Telling.
The Magnetisers.
Influence of Politics and Religion on the Hair and Beard.
Volume II.
Contents.
List of Engravings.
The Crusades.
The Witch Mania.
The Slow Poisoners.
Haunted Houses.
Popular Follies of Great Cities.
Popular Admiration of Great Thieves.
Duels and Ordeals.
Relics.
Friend of mine grew up in Telluride, CO when It was an old miners' town with quaint old Victorian houses—then it became a hipster ski resort. Cannot go home again. Heartbreaking.
Insanity?
Next to the KJV Bible, probably the most valuable book I ever read. My favorite quote from a book full of wonderful apothegms:
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” - Charles Mackay
You must be in Sandpoint.
Chinese.
You can get a 3% to 4% mortgage. Great time to buy a home.
What copy are you talking about. I bought the one linked but it reads like someone’s notes and is impossible to follow. Are you sure you read this book?
We’ll see if the boat has left the dock or not.
IMHO the red hot residential real estate market will last through interest rate increases for a while. People will be scrambling to buy before they get too high.
Increased lumber costs and inflation will continue to jack up the cost of new and existing homes.
Green New Deal regulations will add jet fuel to that fire.
But maybe I’m wrong. We’ll see.
I went to the site linked in post #50, and and then selected "Read this book online: HTML". It read fine to me.
I will say that I checked Amazon buyer reviews, and some editions get lousy critiques of editing etc.
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