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CDA running away with the Natty
YellowSnow
Moderator, Swaye's Wigwam Posts: 37,853 
CDA has corned the market for the Cali Fag diaspora @PurpleThrobber
https://www.krem.com/article/news/local/coeur-dalene-hottest-emerging-housing-market-wall-street-journal/293-2993a3d6-b5c6-4a7f-8e4c-7e20ba206582
https://www.krem.com/article/news/local/coeur-dalene-hottest-emerging-housing-market-wall-street-journal/293-2993a3d6-b5c6-4a7f-8e4c-7e20ba206582
Comments
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It's fucking insane. Little tiny shitty houses going for $400K.
Spokane isn't quite as bad but close. Somewhere between 10 and 30 offers coming in on every house up for sale. Had heard horror stories of $200K houses getting bid up $100K.
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The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are. -
https://www.zillow.com/homedetails/101-E-Miller-Ave-Coeur-D-Alene-ID-83814/2071246615_zpid/
https://www.zillow.com/homedetails/923-N-5th-St-Coeur-D-Alene-ID-83814/113149665_zpid/?
https://www.zillow.com/homedetails/802-E-Bancroft-Ave-Coeur-D-Alene-ID-83814/113110613_zpid/
You could have bought every one of these houses for somewhere around $200K three years ago.
They are in dumpy neighborhoods and dumpy little houses.
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I just wanna say, for the record, I sometimes hate Past@Doog_de_Jour.
@creepycoug, if you ever save up enough money for that time machine, let me know. I wanna go back a few years and bitch slap my former self for not buying real estate...
...among other things. -
That's because you have a brain and realize it's unsustainable. At least, that's what @HoustonHusky would say.Doog_de_Jour said:The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are.
A las, when property runs like that and it's near a lot of wealth-generating activity - hate it if you will, Seattle is one such place - then there is something to consider. People want to be in the greater Seattle area regardless of what the Tug bros wish was the case.
But when shit like this is happening in places people are just "running to", I think there is more risk. There are other bubbles too. Miami beach was a bubble in 2007 & 2008. It got frothy "just because", and then the froth was built on froth, and that was built on yet more froth, and then people started saying, "Ok, it's nice, but what the fuck else you gonna do here?" It's not like buying a $1,000,000 house 25 blocks from Expedia HQ. That kind of thing is risky bisky. Mark down that I said that and watch what happens when rates click back up to the 4s and 5s. Some markets will have people with the money to keep buying and financing; others will blow up.
@Pawz is our man here. -
And I like CDA, btw. But at some point, when whatever trend is trending it to the moon has passed, I wonder what will happen when everyone stands around and looks at each other and remembers they're in Idaho. Some special places have staying power ... e.g. Bozeman, MT. Some don't.creepycoug said:
That's because you have a brain and realize it's unsustainable. At least, that's what @HoustonHusky would say.Doog_de_Jour said:The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are.
A las, when property runs like that and it's near a lot of wealth-generating activity - hate it if you will, Seattle is one such place - then there is something to consider. People want to be in the greater Seattle area regardless of what the Tug bros wish was the case.
But when shit like this is happening in places people are just "running to", I think there is more risk. There are other bubbles too. Miami beach was a bubble in 2007 & 2008. It got frothy "just because", and then the froth was built on froth, and that was built on yet more froth, and then people started saying, "Ok, it's nice, but what the fuck else you gonna do here?" It's not like buying a $1,000,000 house 25 blocks from Expedia HQ. That kind of thing is risky bisky. Mark down that I said that and watch what happens when rates click back up to the 4s and 5s. Some markets will have people with the money to keep buying and financing; others will blow up.
@Pawz is our man here. -
Thumbs up, but I’d add I don’t see how rates get back up to 4 or 5% because the whole system blows up if/when it happens..the govt can’t print that much money for interest payments and most of the housing markets will crash.creepycoug said:
That's because you have a brain and realize it's unsustainable. At least, that's what @HoustonHusky would say.Doog_de_Jour said:The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are.
A las, when property runs like that and it's near a lot of wealth-generating activity - hate it if you will, Seattle is one such place - then there is something to consider. People want to be in the greater Seattle area regardless of what the Tug bros wish was the case.
But when shit like this is happening in places people are just "running to", I think there is more risk. There are other bubbles too. Miami beach was a bubble in 2007 & 2008. It got frothy "just because", and then the froth was built on froth, and that was built on yet more froth, and then people started saying, "Ok, it's nice, but what the fuck else you gonna do here?" It's not like buying a $1,000,000 house 25 blocks from Expedia HQ. That kind of thing is risky bisky. Mark down that I said that and watch what happens when rates click back up to the 4s and 5s. Some markets will have people with the money to keep buying and financing; others will blow up.
@Pawz is our man here.
It will get eventually get ugly, but still think we are on the early part of the Fed crack bender...think it will get really wacky before whatever reset happens. -
yeah, soy boys and fugly muff diverscreepycoug said:
That's because you have a brain and realize it's unsustainable. At least, that's what @HoustonHusky would say.Doog_de_Jour said:The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are.
A las, when property runs like that and it's near a lot of wealth-generating activity - hate it if you will, Seattle is one such place - then there is something to consider. People want to be in the greater Seattle area regardless of what the Tug bros wish was the case.
But when shit like this is happening in places people are just "running to", I think there is more risk. There are other bubbles too. Miami beach was a bubble in 2007 & 2008. It got frothy "just because", and then the froth was built on froth, and that was built on yet more froth, and then people started saying, "Ok, it's nice, but what the fuck else you gonna do here?" It's not like buying a $1,000,000 house 25 blocks from Expedia HQ. That kind of thing is risky bisky. Mark down that I said that and watch what happens when rates click back up to the 4s and 5s. Some markets will have people with the money to keep buying and financing; others will blow up.
@Pawz is our man here. -
It’s all about the amenities. The towns that have them in spades have the most staying power.creepycoug said:
And I like CDA, btw. But at some point, when whatever trend is trending it to the moon has passed, I wonder what will happen when everyone stands around and looks at each other and remembers they're in Idaho. Some special places have staying power ... e.g. Bozeman, MT. Some don't.creepycoug said:
That's because you have a brain and realize it's unsustainable. At least, that's what @HoustonHusky would say.Doog_de_Jour said:The Median US home price recently hit $320,000 according to Redfin. A new record.
The median household income in the US is about 68k/year.
I’m a good capitalist as much as the other members of @creepycoug’s club, but this trajectory really frightens me.
Having houses in Eastern WA or Idaho being half a mil is nuts.
But here we are.
A las, when property runs like that and it's near a lot of wealth-generating activity - hate it if you will, Seattle is one such place - then there is something to consider. People want to be in the greater Seattle area regardless of what the Tug bros wish was the case.
But when shit like this is happening in places people are just "running to", I think there is more risk. There are other bubbles too. Miami beach was a bubble in 2007 & 2008. It got frothy "just because", and then the froth was built on froth, and that was built on yet more froth, and then people started saying, "Ok, it's nice, but what the fuck else you gonna do here?" It's not like buying a $1,000,000 house 25 blocks from Expedia HQ. That kind of thing is risky bisky. Mark down that I said that and watch what happens when rates click back up to the 4s and 5s. Some markets will have people with the money to keep buying and financing; others will blow up.
@Pawz is our man here.
My parents bought their house in Park City in 2003 for $400k. Would sell now for over $1.7 million. Park City has amenities coming out the the ying Yang.
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I don’t think people quite realize the evolution coming...we are moving back to the 70s in several ways. One will be that the cities are going to return to being shiteholes again...there will be a fleeing for the ‘burbs/sane areas in the next couple of years...we are just on the front end of the curve now.
Look at the Seattle Police Department...everyone there is fleeing. It won’t be instantaneous, but crime and general undesirable living conditions will follow and with that the $$$ will leave even faster which will have a cascading impact. The state govt will bail them out for a while but it won’t be a long-term fix.
