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When the "Californians" discover the Hope/Sunrise, Alaska area, this area will be $350,000.00 to $450,000.00 an Acre in a few years.
 
I bought my little farmhouse last September for $87k.
Guy was middle of divorce , desperate to sell.
My good friend is a broker. He says he'd list it for $250k.
I've put $50k into it.

That's crazy.
Young folks getting in over their heads all around me...the bubble will burst.
Interest rates already going up.
All these kids are gonna default soon. Monster mortgages.

It's crazy...they never learn.

Jim
 
LadyLocust said:
We are hoping for a reversal and a buyers market like Jim mentioned above.
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The future "Buyers Market" will be in suburban or urban and big city anywhere.

Back in the 1970's we were buying land and selling it for double what we paid with-in weeks or two months. Was the combination of the High Inflation of the 70's and the massive BOOM of building the Trans-Alaska Oil Pipeline.
 
LadyLocust said:
We are hoping for a reversal and a buyers market like Jim mentioned above.
Click to expand...
Yeah I don't know where people get all this money. Everyone is house poor.
My brother lives paycheck to paycheck and has a house he could barely afford because he was afraid to get priced out of the market. Neither he or his wife have any potential to increase income unless they go to school and start a whole new career (or my brother goes back into business for himself).
 
Here in S.W. Oregon, the average price of a home is over
$300,000, we have friends that have been looking for a home for over three years and ones that their real estate lady has shown them all seem to be bulldozer fodder, they liked one home they looked at but when the inspector checked it out, he found that there had been a fire in the home and all the rafters were fire charded. One house they looked at in the Roseburg area for around $295,000, they liked but found out the next day was basically sold out from under them. Some of the homes they told me about, were all tear down and build new, I don't see how they could do that at prices of what should be a home in good condition, next to nobody can afford buying property at those prices only to have to build a new home on it, they'd be paying as much for the new build as what they paid for the property, I just have to shake my head in sorrow to see this going on.
 
I don't believe the prices will stay where they are for three years. Buy land now and in two years it might be worth half what you paid for it.
 
we, all of the planet are on the verge of a huge financial crash, except for countries that have chosen to go gold standard, The US dollar was based on oil trade, half of the planet won't deal in it anymore, most of the north american industrial production has been moved off shore, the supply chain is coming apart, the list goes on. land speculation is not something I would consider right now, and I have done really well with it in the past.
 
All this talk made me look, since 2019 our house has increased in value (price?) by 64%. Houses with our floor plan are selling for 4X what we bought ours for in 2000. I think that this is another inflationary bubble. Everything I am seeing screams that this is just like the roaring 20s. I am not looking forward to what happens next. I just want to get everything paid off so if it goes south I can still get by.
 
SheepDog said:
I don't believe the prices will stay where they are for three years. Buy land now and in two years it might be worth half what you paid for it.
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Bingo.
For those that don't know history, a little song:

Rock-a-bye baby, on the treetops,
When the wind blows, the cradle will rock,
When the bough breaks, the cradle will fall,
And down will come baby, cradle and all.

A history refresher lesson for the others:
The U.S. experienced a major housing bubble in the 2000s caused by inflows of money into housing markets, loose lending conditions, and government policy to promote home-ownership. A housing bubble, as with any other bubble, is a temporary event and has the potential to happen at any time market conditions allow it. ...
At some point, demand decreases or stagnates at the same time supply increases, resulting in a sharp drop in prices—and the bubble bursts.
Click to expand...

Anybody that believes we are not staring straight at a housing bubble, well, they need new glasses. :mad:
 
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Tootsie said:
Real estate prices got crazy, now assessments are going up. In the local news this week, Penfield/ Monroe County has raises from 10-70 percent on homes that have not been on the market to equalize with those that recently sold for crazy amounts.
The 300 acre family farm in Ontario county just went up 25%. Taxes did not go up. Yet.
We have so much to be thankful for, so many blessings, but less government and it’s interference sure would be nice.
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Houses in my neighborhood are modest - maybe 2000 square feet - on a quarter to half acre of land. Standard 'burb. None of these would command over $200k last year. Today, several houses are for sale near me (Irondequoit) and they're all asking over $200k. They'll easily sell for that. I guarantee we'll be reassessed soon and our taxes will go up.
 
Real estate here runs in the $125-$150 per square foot range. I am not sure about acreage. If you want to compare cost of living between areas this website isn't bad.

https://www.numbeo.com/cost-of-living/
 
Morgan101 said:
Real estate here runs in the $125-$150 per square foot range. I am not sure about acreage. If you want to compare cost of living between areas this website isn't bad.

https://www.numbeo.com/cost-of-living/
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I checked the site and for this area they are quoting about $160/sq foot, but housing in this area is reporting sales of close to $250/sq ft. Yep, I would say things are getting out of control.
 
We just got our property tax information from the county last week. The estimated market value on our place increased 60% since last year! We have had absolutely no property improvements during that time period (or for the past 10 years for that matter). I can't wait to see my statement for taxes payable in 2023.
 
To get a properties value, outside of its actual sale, what are y'all using to determine value? I just checked realtor.com and zillow.com and some properties I looked at are pretty close while others are waaayyyy off.

Around here (due to our very good school district), most any house that hits the market sells very quickly. This has been true for at least 20 years. The 2 exceptions are seasonal cabins and places over $1 million.
 
I've purchased cheaper houses. more expensive houses.
Bigger houses and smaller houses.
I only care how much it cost and what the taxes are.
I never sold a house so their value is what they mean to me and not what the masses would pay for it.
 
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Sourdough said:
The future "Buyers Market" will be in suburban or urban and big city anywhere.

Back in the 1970's we were buying land and selling it for double what we paid with-in weeks or two months. Was the combination of the High Inflation of the 70's and the massive BOOM of building the Trans-Alaska Oil Pipeline.
Click to expand...
SLADE said:
I've purchased cheaper houses. more expensive houses.
Bigger houses and smaller houses.
I only care how much it cost and what the taxes are.
I never sold a house so their value is what they mean to me and not what the masses would pay for it.
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We don’t want to buy simply to buy something. We want a place to stay out the rest of our years (rather like Slade mentions). We are seeing homes in towns for sale more than those with property. Many of those with the size property we are looking for have a monstrous “party pad” on them which we have no interest in. If they took their 8k sf 5 bath “home” with them, we would be far more interested.
 
I would ask, if a person can "Fully-100%" grasp and accept that we are several months or a few years "INTO" World War III (Also known as the fourth turning) then it is prudent to ask oneself, "Where exactly would you choose to attempt to ride that Super SHTF event out.....??

Now I personally fully expect China (as part of this WAR) to in the beginning throttle back exports to America/NATO countries.........building to 50-80% export tariff. Eventually exporting zero to the "Western Alliance". Which I would expect to trigger hundreds of percent inflation (if even remotely available) to Western Alliance.

Motivated by GREED, America and the Western Alliance has laid the foundation for its own destruction. If simply America was neutralized, all of NATO would be neutralized. So bring America to its KNEES, will be the simple plan for the Russian-China and its alliance.
 
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Cascadian said:
I have been telling young folks to get out of debt and save for awhile longer. There will be allot of empty houses soon.
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Yep. That's part of what we are after - making a cash offer :) We don't like debt so will avoid it like the plague.
 
my neighbor just sold a ten acre parcel he bought 5 years ago for around $20,000 here in rural Idaho about 2.5 hours north of Boise. NO well, no power sewer , just bare land for $150,000!
while it is great for the folks who can make a good profit..I don't see this bubble lasting much longer...I could be wrong but will all that is going on I doubt it.
 
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