Posted on 03/30/2021 6:40:21 AM PDT by blam
Just out of curiosity. ..what’s your liability if a tree falls on your neighbors house? Our neighbors trees COULD do just that...
It’s not really a bubble. Mass movement by people from one part of the country to another puts pressure on the market in that new location. As long as there is demand, there is upward pressure.
In the months of Feb-Mar we watched the value of our home change at the rate of $1000 per day. Only 250 available homes in a county of 600,000 people. Homes are purchased before they are built.
“The only reason I can think of why real estate in Austin is exploding, other than stupidity, is that it’s being driven by liberals bolting from liberal hell-holes from around the country.”
Perhaps it has something to do with the availability of good jobs.
Low interest mortgages spread out over 30 years.
This allows you to buy two houses - one for yourself and one for the bank!
That’s true too.
Yes that is what we found. I was working in the lumber business in the 70s and 80s. More places could handle larger logs at that time. The only large facility in our area that is currently able to process larger logs that I know of is Manke Lumber Company. Even though they did some finish work... we used to do quite a bit of specialty work for them when we were in the business.
There are portable saw mills that can handle large logs. Is some cases the limitation is the operator and the equipment he has available to get the logs on the mill. The one my "friend" has can handle big logs and he has a large fork lift, but they are still awkward to handle and tend to knock everything out of alignment when they are dropped on the bed. We used to have a turn of the century gang saw that could handle cants up to 30".
And I can't tell you the difficulties that we had hitting spikes usually while resawing wood. More than one sent shrapnel flying when a bandsaw blade hit one. Unlike more modern equipment someone was almost always within a few feet from where the blade was cutting the wood with almost no shielding. My uncle got piece of saw blade embedded so deeply in his arm once that a surgeon had to remove it.
Some of the spikes managed to make it into our moulders where they would cause a lot of damage to the knives that I ground by hand. Not as dangerous but it would some times take me hours to get things running right again. At that time activists were driving spikes into trees to cause problems for people who were milling them.
The other memorable difficulty was was after Mt. St Hellens blew up and we had huge piles of salvaged wood that had ash all over it. It was very abrasive and very hard on our resaw blades and to a lesser extent the knives in our moulders. We could often go half a day on a blade while cutting up clean wood, but go through multiple blades during the same time with the ash covered wood. We tried washing it off with a pressure washer in some cases but it was typically more trouble than it was worth.
I am always hoping to run into a lumber broker we used to work with a long time ago named Hans Chambers. Please freepmail me if you know him.
Prices have been increasing everywhere for the past 10 yrs on average since the last housing collapse which happened 12 yrs ago and persisted for a couple of yrs.
I’m now in SC and have owned homes in both North and South Carolina. Prices here are much lower due to the lower cost of labor and land. That is an attraction to buyers for sure but the lower RE taxes are long term at least as important.
I used to live in Northern NJ in a 1200 sq ft Cape. RE taxes on that property are over $11,000 annually. I know live in a 2000 sq ft new home on a larger lot in SC and my RE taxes are a bit over $1400 annually.
So there is the double draw of home prices probably close to 25% less for similar homes in the NE and the added attraction of RE taxes being a small fraction of what they would be in the NE.
The amount of construction here must be seen to be believed. Almost everywhere you look they are building Town Homes, apartments and detached home communities with the emphasis on over 55 retirement communities.
Who is buying all of these houses?
People fleeing big blue cities for safer places to raise their families and to live in.
Now the “Calies” are moving to Oklahoma.
Reverse of: The Grapes of Wrath:
The best-known novel by John Steinbeck, published in 1939.
It evokes the harshness of the Great Depression and arouses sympathy for the struggles of migrant farm workers. The book came to be regarded as an American classic.
Hello inflation. Time to dust off the old WIN buttons.
where I live it is silicon valley liberals who come with cash in hand and buy up everything. Now thanks, to kung flu, they earn the same pay working from home and in turn drive up the cost of everything for the little people. Houses that were going for under $100k are now getting $300k-$400k offers. The locals are priced out because the jobs (lots of lumber) can’t compete.
I read this morning that REITs have $350B cash available to spend on real estate. It’s no wonder everything is sold in Carolina Beach NC and I’m outbid on anything decent even before I make an offer:-(
#1. “Ability to work anywhere by many has people moving.”
#2. “Also, the ability to home school your children is a factor.
Young people with families or babies coming soon are moving here from SF, East Bay, Silly Con Valley, and the LA area.
NYC refugees are coming here.
The city council and school board members are licking their chops will waiting when the big increase in property taxes hits next month. Prop 13 only applies after you buy/move in.
The Sacramento area has back ups to the back up buyers for homes before many of the homes go on the market.
There is another factor that is really hard to calculate. The so called retirement centers with Covid restrictions have become similar to honor jails. People, who paid big money to move in are like honor prisoners. Their family/friends can’t visit. They can’t leave. Many have to eat their meals in their rooms and can’t go into the former dining halls.
So new/former retirement home buyers are saying no and buying smaller homes in our areas. One new couple at our church in their 70’s just spent a year in a rented condo to be able to move into one of the high end retirement compounds. They said no way, and bought a 2 bedroom condo in an area close to the compound place.
We have friends, who have changed their minds and are making their current home into a home that is safe for seniors versus buying a retirement/compound home.
The race riots last year have scared the heck out of the millenials and even liberals who used to love living in the city.”
Talking to some of the escapees from NYC, SF or LA, those riots were big wake up calls even if they didn’t live in those areas. They are bailing out every month and moving to safer areas for their families and even if they are single.
My sister in law and husband live in Pawley’s Island. They moved from NH eight years ago. It has been booming ever since.
I am told I am sitting on a gold mine. 4 bed 3.5 bath brick stick built 12 acre horse farm surrounded by not much else in “the county” in NC. I am prepping mine for sale now. If I can get 100K more than I paid about 8 years ago, I am out. I am told that shouldn’t be a problem if I get it listed soon. I have a lake house I can live in until then bottom falls out again (and it will) and I can find a new place closer to my job.
We are going to buy a piece of property, have one of those fully completed tiny cabins delivered, move into that while we build a house and then rent the cabin out on air bnb for a supplemental income stream. I’m planning to build up a mini homestead with dogs, chickens and fruit trees maybe a couple of goats and sell my eggs, produce and fruit to the weekly guests that rent the cabin. People love that stuff.
You have a full plate. I wish you well.
I’ve waited my whole life to live in the country. Cannot wait. 😊
The hidden hooker is an increase in property taxes due to the rise. Old folks in some areas are going to be taxed out of their homes a la pre-Prop 13 days in California.
Those days were a perfect example of confiscation by taxation - old folks who were in default due to the rising taxes were “allowed” to stay in their homes. The State, in all its mercy, would wait until they died to take ownership for back taxes.
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