Bubble is right! Even here in the country in NY which has built up lots since I bought here 40 years ago - neighbor next door sold his 4 piece double? wide for over $300,000 - altho it does have 25 acres or so with it. Across the street another house with 5 acres went for over $200,000. This area like so many has built up quite a bit - but still much privacy. Sounds awful in the areas you are writing about - at least to someone who lives on social security & retirement savings. How in the world can ordinary average families survive this? And how do the "service industries" manage if their workers cant afford to live there?
Don't live entirely in despair. We're in a bubble as demonstrated by the sporting goods, board game, outdoor, etc, industries. Once herd immunity is achieved, what now are greener pastures will likely return to the sticks. The lure of the big city will return. Most of these people are very used to mall shopping, multiple big screen theaters, education, museums, culture, etc. I'd guess over half will heed the call of the big cities. They likely won't go for a dime on the dollar but might become reasonable enough to reflect lumber prices a few ago. Lumber is an indicator and story by itself. Greg
Bubble is right! Even here in the country in NY which has built up lots since I bought here 40 years ago - neighbor next door sold his 4 piece double? wide for over $300,000 - altho it does have 25 acres or so with it. Across the street another house with 5 acres went for over $200,000. This area like so many has built up quite a bit - but still much privacy. Sounds awful in the areas you are writing about - at least to someone who lives on social security & retirement savings. How in the world can ordinary average families survive this? And how do the "service industries" manage if their workers cant afford to live there?
Don't live entirely in despair. We're in a bubble as demonstrated by the sporting goods, board game, outdoor, etc, industries. Once herd immunity is achieved, what now are greener pastures will likely return to the sticks. The lure of the big city will return. Most of these people are very used to mall shopping, multiple big screen theaters, education, museums, culture, etc. I'd guess over half will heed the call of the big cities. They likely won't go for a dime on the dollar but might become reasonable enough to reflect lumber prices a few ago. Lumber is an indicator and story by itself. Greg
Hey JT,
If Tabor outlawed the real estate transfer tax in Colorado how do Aspen and Telluride have one?