Posted on 06/14/2021 12:41:50 PM PDT by blam
Why have thousands upon thousands of very wealthy people suddenly felt an overwhelming urge to buy a home in Montana? At this moment, Montana is one of the hottest real estate markets in the entire country. When a desirable house is put on the market, it can often spark a wild bidding war. Of course the vast majority of the potential buyers involved in these bidding wars do not actually have any roots in Montana at all. Vast hordes of wealthy individuals from Los Angeles, San Francisco, New York and other major cities are flooding into the state, and there is only a limited amount of housing to accommodate them. As a result, home prices are being pushed to absolutely absurd levels.
In the Flathead Valley, home builders have been working incredibly hard to construct houses for the new arrivals. The following comes from a New York Post article entitled “Montana, the sold-out state New Yorkers can’t get enough of”…
All around the Lodge, along Montana Highway 35, from Kalispell to Whitefish, are what the locals call “COVID homes,” prefabricated track houses that line up along what used to be a timber farm — all of which were built last year and sold at around $550,000.
“Most were bought sight unseen for cash deals,” said Doug Averill.
$550,000 may have seemed like a hefty price when those homes originally went up, but today $550,000 would be considered a bargain price.
That is because the average selling price of a home in Flathead County has now risen to more than $638,000…
In May 2020, the average sale price for a home in Flathead County was $447,387 — a year later it had increased to $638,992. The average number of days a property stayed on the market...
(snip)
(Excerpt) Read more at activistpost.com ...
Sorry, I must have a chink spell checker at the NSA. It changes any works with more that 5-6 letters.
I was stationed at Fort Sill and have considered retiring to that area. The cost of living can’t be beat.
I just got back from Wyoming and South Dakota.
It’s freaking great no freaking people.
Pick something diff..
Yep and it’s the liberals and liberal city and states fault. Heck I would trade 2 Mexicans for 1 liberal anyday of the week if that was allowed
Right; they want to live somewhere that a giant ghettopotamus can’t walk up and drink their beer if they’re eating outside (Pittsburgh?).
They want to live somewhere the winter will kill off the idle.
In October of 2019 my wife and I looked at a lot to build a house on in Lakeside Montana.... $120,000. Foolishly passed on it. Building cost was quoted at $260.00 / sq ft. See they just sold that lot for $250,000 and the house they are building is being quoted at nearly $400.00 sq/ ft. It’s beyond believable how much people are paying for housing between Missoula and Kalispell, but then Flathead Lake with the mountain background and Acardia National Park is gorgeous!
Are they individuals buying homes or corporations?
I’m not cool with corporations buying up single family homes.
Hope not! Although ...how does one go from Cali weather to Montana brutal winter? Hope there’s record cold...they deserve it!
Used to be only landowners could vote.
Looks like private individuals as best I can see.
Bingo!
Yahtzee!
Survey says...the Apocalypse!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.