If I can stay on schedule and retire in 2,380 days, I may just get a couple 40' shipping containers and be good.
As Mr Carlin stated, with a bit of my twist.
As Mr Carlin stated, with a bit of my twist.
People Fleeing cities? Not according to Zillow
- Thread starter 2rocky
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Happy Myles
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- Sep 11, 2020
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And catch a little sleep
Western Traveler1
Well-known member
Choose wisely and do your homework. i have watched prices rise and bubbles burst many times in my lifetime. Fixed rates and never negative cash flows.
One can do quite well over time if one sticks it out. Of course timing helps in everything. I have put the dice in the air many times. Given time in the right areas, 100% and above profit over 10 years is doable. It is always scary to jump in though. Some areas of the Country always go up no matter how often they dip they will rebound above every time.
Now think of how many baby boomers there are that are just tired of all the BS and have worked their butts off their whole life and have the money to make the move and don’t need to live and work in the city anymore.
Always keep at least two if you can....
Though I could be wrong...
One can do quite well over time if one sticks it out. Of course timing helps in everything. I have put the dice in the air many times. Given time in the right areas, 100% and above profit over 10 years is doable. It is always scary to jump in though. Some areas of the Country always go up no matter how often they dip they will rebound above every time.
Now think of how many baby boomers there are that are just tired of all the BS and have worked their butts off their whole life and have the money to make the move and don’t need to live and work in the city anymore.
Always keep at least two if you can....
Though I could be wrong...
Hem
Well-known member
Best adaptation ever!
My tire guy in our little town is getting hammered by A) Bozemamites B) refugees.
He indicated a unusual amount of Californians, Texans, and Washingtonian.
Refugees freaking about impending weather this weekend.
F-ing bring it on. Sub zero temps and snow are our friend. Oh, happens to be the opener too. Elk camp on Friday.
Happy times.
Unfortunately, the swarm of folks leaving the metro areas and moving to the rural spaces, will bring the problems they think they are trying to escape. I have witnessed this here. I've attended too many town meetings where the new comers, " well that's not the way we did it where I come from". Their money, attorneys, and influence will alter the way you live in your small small towns.
Nick87
Well-known member
Unfortunately this is spot on.
devon deer
Well-known member
I live in a fairly rural part of the UK in the south west, lots of coastal towns had already been targeted by rich city folk buying up second holiday homes as bolt holes, then the virus hit, property sales went crazy, it's so sad as it pushes up the prices locally, so my daughter will struggle to ever purchase a house down here.
As another example of big city money, a cottage in my village usually rents out at peak times for around $1000/week, during lock down a London agent tried to rent the cottage for a client for a month (travel was illegal at the time) he offered the owner $45k!
The owner turned him down, citing the fact he had just retired from the police!
Cheers
Richard
As another example of big city money, a cottage in my village usually rents out at peak times for around $1000/week, during lock down a London agent tried to rent the cottage for a client for a month (travel was illegal at the time) he offered the owner $45k!
The owner turned him down, citing the fact he had just retired from the police!
Cheers
Richard
diamond hitch
Well-known member
A recent news show said housing in Butte was up 20% with people buying houses for cash without seeing them. I'm curious to see if there will be another migration in the spring or the one after for those incapable of adapting to the winters.
When I bought my place one of the locals told me I would be gone by spring - nobody could live up there. I have a four wheel drive tractor with a 9 ft blade and a D-7 and proper preparation for snow removal. You can live anywhere with enough yellow iron and a big wood pile. It's just not a place for woosies. Bundle up folks. Time to get cozy.The show is just starting.
When I bought my place one of the locals told me I would be gone by spring - nobody could live up there. I have a four wheel drive tractor with a 9 ft blade and a D-7 and proper preparation for snow removal. You can live anywhere with enough yellow iron and a big wood pile. It's just not a place for woosies. Bundle up folks. Time to get cozy.The show is just starting.
Gerald Martin
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- Joined
- Jul 3, 2009
- Messages
- 8,637
All I can say is I am smiling to have purchased property in April. Not smiling as much over current lumber prices.
Hard not to think about the realtors in that Bozeman article as eagles waddling around so fat they can’t fly after feasting on a carcass.
Can someone explain to me how a beautician and a consultant who works as a bartender at night can afford a $650,000 house?
Hard not to think about the realtors in that Bozeman article as eagles waddling around so fat they can’t fly after feasting on a carcass.
Can someone explain to me how a beautician and a consultant who works as a bartender at night can afford a $650,000 house?
shadowtracker
Member
Not everyone moving to Montana is as described by some. My wife and I are currently building in the SW part of the state. Im a groundskeeper, my wife a firefighter/RN. We are hardly wealthy, come from Massachusetts and are building a modest 1400’sq house to live in. We are lifelong hunters/anglers and enjoy all that Montana offers. Can’t wait for next spring.
Kali & NY building codes and big city planning. They will make it just like where they came from.
westbranch
Well-known member
Based on a few minutes of online searching it looks like the condo they sold in CA went for 797,500. Purchased in 2009 for $585k. So that probably did not hurt. With close to 200k down a bank would happily give them a 400k+ mortgage if they have 100k gross income. Still doesn't sound like a good idea to me.
Not sure why anyone volunteers for an article when its that easy to find info on the internet.
D
Deleted member 18333
Guest
They can't. But being able to afford something and being able to find a bank to lend you the money to buy something are two totally different things.
diamond hitch
Well-known member
Sadly enough I saw this in the rush in the 90's. People sold for a bunch in the cities somewhere. They bought into a house/land in a small town in Montana. Were thrilled with how cheap it was and the good deal they got. At the end of the year they were still happy with their deal but were still looking for an income. Year two - started selling some of the assets they moved to survive while still looking for a job / income. Year three - assets nearly gone and can't cover the taxes. In desperation they sell out for a fraction of what they paid for it before they lose it and move to job and the cycle starts again. It's sad to watch.
With a 2.75 percent interest rate and $200K down, it's about $2500 a month. Between two earners, if their income is in fact roughly $100K/year, it's not too much of a stretch.
westbranch
Well-known member
Makes it tough to save for retirement while also buying out of state hunting tags
But they will be MT residents next year and will have access to plenty of elk and giant mule deer so maybe they don't need $$ for those non-resident hunting trips.
On a more serious note, talking to people that move to CDA area from CA or western WA they don't blink at paying 40%+ of their income for rent/mortgage/utilities. My wife and I had some sticker shock when we came from the midwest and had been at <10% ever since we got out of college and started working full time.
Makes it tough to save for retirement while also buying out of state hunting tags
But they will be MT residents next year and will have access to plenty of elk and giant mule deer so maybe they don't need $$ for those non-resident hunting trips.
On a more serious note, talking to people that move to CDA area from CA or western WA they don't blink at paying 40%+ of their income for rent/mortgage/utilities. My wife and I had some sticker shock when we came from the midwest and had been at <10% ever since we got out of college and started working full time.
I don't think those two wonder which camo is the best for archery elk.
jryoung
Well-known member
