So how long till all the covid toys come up for sale?

Nope. The old one. Pondered renting it out. Still haven't 100% dropped that idea, but I just don't think I want to go that route.

 

Which do you prefer....dirt or snowmobile?

 

dirt right now... ALL OUR STUFF IS BEING HELD HOSTAGE BY THE CANADIAN GOV'T. we wont be riding sleds this year, due to the border issues. with that said, it gave us more time for bikes this summer. we have close to 100 hours on dirt bikes this year.

going to be weird not sledding. it's been our life for close to 30 years. missing all the canadian holidays, and lynnes birthday, that we usually spent at the canada house, has SUCKED BALLS, THIS YEAR. really missing our canadian friends, which are more like family now. Ski

 

That's a bummer that SM has dried up. Such a cool sport. Hey, I've got tons of singletrack here in WV but it's mostly the hard enduro flavor. If you decide you want to try it, ping me and you can come down and see what we have here. It's fun.

 

Unfortunately for you, I think younger families are looking to get away from apartments and looking for space between neighbors. Well except Cali, over there makes no sense.

 

They had 11 offers and we didn’t even make the top 4 haha! We’re holding off for another year. Market is way too crazy right now.

 

I just entered escrow yesterday on my home. suburb of San Diego, 40 minute drive to downtown, etc. listing went live on Thursday the 8th, had (9) offers on Saturday the 10th. We "settled" for 26k over asking. It's crazy everywhere! Luckily we wont be buying for the short term.

 

Yikes. I cannot wrap my head around the current real estate market in California. After dealing with housing markets in FL and TX, where you can get so much value for your dollar, it seems insane to look at places like California.

 

The big risk is when interest rates return to historic norms. Then you will see a big drop home prices over time. That’s when people buying now will be under water for an extended period. For example, if rates went back to 7ish percent, our buying power would be reduced around 40 percent. We’re waiting for foreclosure protection to end. Massachusetts is predicated to lead foreclosures along with Colorado and California. When the market inventory returns to normal levels we plan to buy. All theoretical of course.
Sounds like you sold at the right time!

 

I've been thinking this for a long time, especially when things started picking back up again after the 2008 recession. I bought my first house in 87/88 and the rates have declined ever since then, I think that first mortgage was around 10%.

 

Jesus fucking christ. Lost out on a Husky 350 a guy had locally so after a few drinks I'm now perusing the interwebs looking at bikes and these prices are absolutely fucking bonkers for motorcycles.

 

sounds like the Vista area??

 

there are markets that are up and down... Id love for rates to go up because home buyers today are spoiled with stupid low rates. I dont see them going up anytime soon.

 

No. That shit is hard.

 

I just sold an 08 GSXR 600 that was at best a 4500 retail bike. Put it on Facebook marketplace for 5900 and it was gone in 3 days. Dude didn't even haggle. I felt so bad I handed the kid a hundo back and made him promise to buy a snell rated helmet

 

going to be selling a well maintained 2017 ktm xcf250 VERY SHORTLY. Ski

 

1) When was the last time a mortgage rate for a conventional 30-year 7%
2) when do suppose we will get there?
3) what is taking place in the economy for us to get there?
4) what the current natural rate of destruction vs building in housing?
5) current state of new home formations?
6) current average LTV for new originations
7) average ltv on seasoned mortgages.

When I answer these questions I don’t think it’s too unreasonable that home prices are supported here, stay supported and there isn’t an impetus for a major Decline in national home prices. Local market dynamics will obviously be different.

 

A few thoughts... There are some deals popping up I can buy a small 21' travel trailer with a slide out right now for $3500.00 , another I know had a KTM street legal 2-stroke Enduro, for 3K with every extra imaginable on it people need to pay some bills things is getting scary.

I don't believe we've seen nothing yet I'm of the impression next year is going to be horrible?
House prices in California are Ludacris they make no sense and their inflated far beyond what they should be....
I was in denial in 2003 when I bought land and built a house in California.... The house to this day is just barely back to where I was when I built it.... My wife got sick and died from cancer my job went to China .. so I had to let it go but I could have stayed there and never paid it off so it's a blessing in disguise in one way.
But I would never buy a house now not in California no way man been there done that I know what's going to happen next....
If your stable and you buy a house to stay I think that's awesome.... I'm so sick and tired of the younger generations and there newfound starter, second home, third home, vacation rental philosophy....
It's a pretty nauseating here in California I've lived here my whole life if it wasn't just perfect scenery wise I would have been long gone..... If I ever want to own a home again it will say it couldn't even be anywhere that I grew up the average home price in Los Angeles I believe is $750,000 that's an average mind you......Most People will never pay their homes off..... ever