MT lack of affordable housing (mortgage, credit, affordable house)

[jimj]

The good part about western montana is that there are a lot of people that still want to move here and have more money than the locals. What I mean by good is for those that are cashing out and doing something different. There is a glut of inventory at this point so there's a lot to choose from.

[JoeJoeMan]

I am involved in selling my home. I purchased 6 years ago, at half of the appraised value today

So much for 'appraised' value - call back the apprasier and tell him you want half of the money back you gave him to appraise your place...

Actually the last figures I saw showed about a 20 percent drop in number of homes sold.
Sorry but I just don't feel any empathy for anyone who bought a house for say X and wants to sell it for 2X or 3X, so if you walk away with 50k instead of 200k, you still made 50k for basically doing nothing, and the person who buys the house is struggling to make the payment, that is, they are stuggling so you could have that extra 50k.................sorry if I don't feel sorry you only make 50k
Having said that, I'd be doing the same thing as them...If someone is silly enough to give me all that money - I guess I'll take their money

[8 SNAKE]

Originally Posted by JoeJoeMan

So much for 'appraised' value - call back the apprasier and tell him you want half of the money back you gave him to appraise your place...

Actually the last figures I saw showed about a 20 percent drop in number of homes sold.
Sorry but I just don't feel any empathy for anyone who bought a house for say X and wants to sell it for 2X or 3X, so if you walk away with 50k instead of 200k, you still made 50k for basically doing nothing, and the person who buys the house is struggling to make the payment, that is, they are stuggling so you could have that extra 50k.................sorry if I don't feel sorry you only make 50k
Having said that, I'd be doing the same thing as them...If someone is silly enough to give me all that money - I guess I'll take their money

Joe, I think you misunderstood his post. He's saying that he bought the house six years ago for approximately half of what it's worth today. Say it appraises at $600k now, he'd have bought it for $300k six years ago.

[Arleigh-20]

8 Snake
Actually I am not cashing in on a boom, the market is soft and not such a good time to sell. I am leaving for health reason. There has been smoke filling the valley every summer since I have been here, the worst being 2000,2003 and this year.
Manmade laws of governing the forest do not work,only nature in it's purest form,
works. I also believe global warming is in full effect and causing horrendous changes in the Rockies. Climates are changing rapidly in most states, I suppose many people are
looking for greener grass, but I am afraid it is like chasing rainbows.
Montana is a ruthless state to be employed in. In the eighties when I worked here for a few years, It was almost impossible to be hired full time in the retail or pofessional
areas. Part time = no benefits, the philosphy still holds true today.
I think the trophy house's that are in plain site and, not in plain site,have pumped up the economy and prices of houses for the last five years. With the drought, smoke conditions, this may be coming to a halt. Montana is becoming a not so desirable place to live. This may please some long time Montanans, but a lot of employment has been had through the building. I think people through out our nation are feeling a delimma coming on. It will be interesting to see what we do as a nation, solve it or make it worse!

[Arleigh-20]

JOEJOEman

Thanks for the nice comments in your post. Actually I should sell the house for 5% of
appraised value. I could then go back to renting for another 40 years.
You do realize that if my cracker box went up 100%, that all other house's have done did the same. I am sure you realize that equity is not profit, if the home is your only home. Proper amts of equity only asure you, that you can buy another cracker box, in another place!!!!!

[jessaka]

Arleigh,

I lived in CA and spent one summer living through the smoke of a fire. I now have ashtma from said smoke. I would never want to move into a State that had frequent fires like CA.

[Arleigh-20]

Jessaka,
I kept tract of the fires on the Remote sensing web sites showing active fire maps.
After Utahs big wildfire was down,Most all others were in Northern Idaho and western
Montana.
This year I left the area or stayed in side most of the months of July and Aug. For the
first time in my life, I began wheezing.Combination of elevation and smoke is beginning to work me over pretty good. Time to leave.

[JoeJoeMan]

Arleigh-20 Wrote:

Thanks for the nice comments in your post. Actually I should sell the house for 5% of
appraised value. I could then go back to renting for another 40 years.
You do realize that if my cracker box went up 100%, that all other house's have done did the same. I am sure you realize that equity is not profit, if the home is your only home. Proper amts of equity only asure you, that you can buy another cracker box, in another place!!!!!

Yes I understand that, if you move sideways in the same area you really don't get any equity out of the house, which is the first fallacy in realestate sales.....so you have to downsize or move to a cheap area to get the equity out, I guess we all know that. But it still buts the hurt on people in the area trying to get in on their first home.
Hey, I understand, like I said I'd do the same thing, I meant nothing personal

[Arleigh-20]

This was my first home 6 years ago. In order to buy a home almost
anywhere, of the same size and quality, and to keep your payments
the same, one has to invest most of the equity to supply the down payment.
Nevertheless it is good to buy a home if at all possible. I am far from being a profiteer.
I feel lucky and grateful I was able to slide into this place when I did.
I am sure the bulk of homowners are only interested in
trading rent for a place to live, and try to invest in a future. But most definately
there are millions of profiteering land owners , buying and selling
for profit, that is a given.
I realize what you are trying to say. I won't take it personally.

[David Pristupa]

The lack of housing to match incomes is
national problem. It started in Manhattan in the 80s. Professional people are living in
their cars, there was a riot in Laredo TX
Hundreds of people mobbed the housing authority. You think it would be hard to keep
people in a border town to begin with.
I know people are moving overseas to start a new life where life can be less of a challenge and less expensive.