Im bowing out

Thought of you when I read this article @neffa3 . #4 in particular.

"Buying Property in These Western Destinations Could Be a Great Investment" https://finance.yahoo.com/news/buying-property-western-destinations-could-120009130.html
I grew up next to #3 (family is all still there). If I had to place a bet I'd say that Hood River is a WAY better investment and that Leavenworth is a better play than Chelan here locally. Though Chelan is also WAY cheaper to buy into. Waterfront is 99% developed but there are plenty of view acres for fairly reasonable prices.
 
here's a very very small scale observation. but fit's with what many of us are suspecting and seeing.

homes behind me aren't done being built yet. zillow alert for my zip code: home directly behind us just hit he market before being completed.

buyers backed out and forfeit the earnest money i suspect.
 
I grew up next to #3 (family is all still there). If I had to place a bet I'd say that Hood River is a WAY better investment and that Leavenworth is a better play than Chelan here locally. Though Chelan is also WAY cheaper to buy into. Waterfront is 99% developed but there are plenty of view acres for fairly reasonable prices.
I skimmed through some Chelan listings and thought it seemed reasonable compared to other trendy places.
 
I grew up next to #3 (family is all still there). If I had to place a bet I'd say that Hood River is a WAY better investment and that Leavenworth is a better play than Chelan here locally. Though Chelan is also WAY cheaper to buy into. Waterfront is 99% developed but there are plenty of view acres for fairly reasonable prices.
Spend a few days in Chelan last week. Cute little town but it was dry as a bone and 105degrees and doing anything better involve getting in the water. Trees are scattered. I have heard more positive things about levinworth, or more specifically the spa there is of great interest to the wife.
 
Thought of you when I read this article @neffa3 . #4 in particular.

"Buying Property in These Western Destinations Could Be a Great Investment" https://finance.yahoo.com/news/buying-property-western-destinations-could-120009130.html

I lived in the coachella valley 2012-14 and the man paid the $1400/month it took to rent a fully furnished 1700 SF 2b/2b condo with a pool in a nice gated country club community. I kicked myself for a while not turning that per diem $ into a rental property there but the thing is the majority of the communities there are absolute murder with HOA fees and they nickel and dime you on taxes. I saw my old place sold twice since then and not for much more than I figured I would have paid for it. https://www.redfin.com/CA/Bermuda-Dunes/79311-Montego-Bay-Dr-92203/home/5839841
 
I lived in the coachella valley 2012-14 and the man paid the $1400/month it took to rent a fully furnished 1700 SF 2b/2b condo with a pool in a nice gated country club community. I kicked myself for a while not turning that per diem $ into a rental property there but the thing is the majority of the communities there are absolute murder with HOA fees and they nickel and dime you on taxes. I saw my old place sold twice since then and not for much more than I figured I would have paid for it. https://www.redfin.com/CA/Bermuda-Dunes/79311-Montego-Bay-Dr-92203/home/5839841
I personally would not touch any California real estate with a 10 foot pole. Vacation rental investment property in Chelan seems dangerous to me right now as well.
 
Glad to see a list of places to own property that didn’t include Bozeman. That’s a good thing.
 
Am I crazy to be considering buying a house two years before I can retire from the military and move into it? I hate the current mortgage rates, but we sure haven’t entered into a recession like everyone feared. I fear that the prices will continue to go up over the next two years so why not buy now and rent it out (even if there is a monthly loss each month)?
 
Am I crazy to be considering buying a house two years before I can retire from the military and move into it? I hate the current mortgage rates, but we sure haven’t entered into a recession like everyone feared. I fear that the prices will continue to go up over the next two years so why not buy now and rent it out (even if there is a monthly loss each month)?
Does the math work if you fail to rent it for 3 straight months? I’d probably save the money and buy after you retire. It gives you greater flexibility in location, the ability take long vacations with no worries and any future jobs.
 
Does the math work if you fail to rent it for 3 straight months? I’d probably save the money and buy after you retire. It gives you greater flexibility in location, the ability take long vacations with no worries and any future jobs.
I’m still gathering information and researching. Last night I discovered that the loan duration likely needs to be 15 years for an “investment property” even though I don’t have any other mortgages or own any real estate. Navy Federal used to have a “Future Primary Residence” 30 year conventional loan, which would have been perfect for my situation but they got rid of it years ago.

A 15 year duration greatly increases the monthly payment so rent definitely won’t cover it.
 
That article reinforces why I don't read the WSJ. Hacks. Not just the opinion section but the whole thing at this point.

2021 US Households 122.4m
2021 Housing units 142.1m

The problem isn't lack of building. It's boomers living longer than planned and many owning more than one residence.
 
That article reinforces why I don't read the WSJ. Hacks. Not just the opinion section but the whole thing at this point.

2021 US Households 122.4m
2021 Housing units 142.1m

The problem isn't lack of building. It's boomers living longer than planned and many owning more than one residence.

WSJ has its faults, but it sucks less than the rest - which really is the standard all of life needs to be held to if we are honest.
 
The problem isn't lack of building. It's boomers living longer than planned and many owning more than one residence.

is it not possible it's a combination of factors? or do boomers actually have a sole monopoly on the supply side economics of real estate?

would building more homes actually not increase supply?

i never thought SAJ, of all of our esteemed posters, would single out a sole factor in a complicated economic problem and place all blame on it. glad the millennials dodged a bullet on this one a least ;)
 
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