- Joined
- Nov 23, 2015
- Posts
- 834
What are you seeing in your area these days? I instigated some thread drift on a very ski relevant topic (Tom Brady) and thought I ought to get a legitimate real estate thread rolling. The Covid upheaval has caused a perfect storm in many real estate markets. People have been able to, or been forced to work from home, and various stimulus efforts have caused mortgage rates to do a double heel release faceplant. It didn't take long for them to ask "If I can work from home, shouldn't home be near the lifts?"
Bend, Oregon has gone from boom-town to Zoom-town. The Bay area folks, with their ridiculous prices, have spilled over into towns like Bend, and bought up everything. The town I moved to with 25,000 people is now over 100,000. The basic logging town shack is over $500k. One in our neighborhood just closed for 706k. Apparently some areas are worse (not the obvious ones like Aspen, places normal humans live.)
I suppose when and if the virus is contained the pressure will subside, but I wonder how much of a permanent shift we have seen. My niece was told by her company her job would now be permanently from home, and they sold their main office building.
It is tempting to take the money and run. We did just that in the 2005 real estate boom but came back after a few years. We missed our friends and the area, but we did do well selling at the top. Not sure where we'd go....
Here's what you can get, on a busy street, 22 miles from the lifts......
Bend, Oregon has gone from boom-town to Zoom-town. The Bay area folks, with their ridiculous prices, have spilled over into towns like Bend, and bought up everything. The town I moved to with 25,000 people is now over 100,000. The basic logging town shack is over $500k. One in our neighborhood just closed for 706k. Apparently some areas are worse (not the obvious ones like Aspen, places normal humans live.)
I suppose when and if the virus is contained the pressure will subside, but I wonder how much of a permanent shift we have seen. My niece was told by her company her job would now be permanently from home, and they sold their main office building.
It is tempting to take the money and run. We did just that in the 2005 real estate boom but came back after a few years. We missed our friends and the area, but we did do well selling at the top. Not sure where we'd go....
Here's what you can get, on a busy street, 22 miles from the lifts......