patrick.net
An Antidote to Corporate Media
1,241,695 comments by 14,833 users - Tenpoundbass, The_Deplorable online now
housing prices peak 2
invite response
2022 Apr 29, 9:29pm 596,313 views 5,486 comments
by AD ➕follow (1) 💰tip ignore
« First « Previous Comments 5,485 - 5,486 of 5,486 Search these comments
5486
Ceffer
2024 Oct 19, 11:40am
Ceffer
2024 Oct 19, 11:40am
WookieMan says
The guy in the double lot next to the umbrella thingy inherited the lot with a long term lease from his parents and pays a couple hundred a month in lot rent fees. I bought a surfboard from him years ago.
The history is the park had rent control down to that couple hundred a month, so the Appalachian trailers on the lots were selling for 500k to a million based on the rent control subsidy. A large Chicago real estate firm bought the development then lawfared the rent control out of existence and raised the lot fees overnight to thousands, which squelched the old speculation in its tracks and left a lot of 'investors' and oldsters high and dry. However, many lower rates were preserved for various residents under various circumstances. My wife knows a lady who still lives there under the older plot rents. You can buy an old trailer there for lower prices now, you just have to pay the much higher rents and HOA stuff.
The guy in the double lot next to the umbrella thingy inherited the lot with a long term lease from his parents and pays a couple hundred a month in lot rent fees. I bought a surfboard from him years ago.
The history is the park had rent control down to that couple hundred a month, so the Appalachian trailers on the lots were selling for 500k to a million based on the rent control subsidy. A large Chicago real estate firm bought the development then lawfared the rent control out of existence and raised the lot fees overnight to thousands, which squelched the old speculation in its tracks and left a lot of 'investors' and oldsters high and dry. However, many lower rates were preserved for various residents under various circumstances. My wife knows a lady who still lives there under the older plot rents. You can buy an old trailer there for lower prices now, you just have to pay the much higher rents and HOA stuff.
« First « Previous Comments 5,485 - 5,486 of 5,486 Search these comments
https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.