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User Info 2021: The Year In Review, And A Wee Light In The Tunnel; entered at 2021-12-27 08:07:37
Posts: 203731
Registered: 2007-06-26
@Blanca the RRE market here has gotten more insane, which I didn't think was possible. Inventory is historically troublesome this time of year here and in a lot of other markets, but the pricing I'm seeing at present is so far beyond stupid its not believable.

This is not an area where there's a bunch of hoity-toity rich stock brokers either. But what it DOES have (like everywhere else) is a small group of assholes who think they can buy everything in sight and convert it to rentals of one form or another, whether AirBNB or, in the places where that's prohibited (which is becoming increasingly so) pseudo-deals like that which get around it with 30 day leases and similar -- at astronomical prices. What's left in the actual single-family market is price-to-value numbers that simply make no sense and are impossible to believe someone can actually pay for given prevailing wages in the area.

I'm out of the 2-year lockout (long-term cap gains) next month but there's nowhere to really try to monetize it by moving again that also is somewhere I want to live and which has reasonable odds of remaining free of screaming stupidity in the political sphere. If I get forced into shooting, looting and burning then I do, but I sure as hell am not going to volunteer for it by living somewhere that increases the odds.
2021-12-27 08:07:37