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  • #31
    I sure hope that there are never again single family homes going for $100K. A drastic market move in my opinion would be around 20%, and even that would be extremely painful for everyone. The nice thing about a free market is that you can choose to participate. If you think that prices are too high then you shouldn't buy. Rentals again are what the market will bare. If you don't want to live in fairview then pay to live on hillside. If enough buyers/renters believe as you do then the market will adjust and prices/rents will come down. But, the sky is not falling. Just because the market is down and oil prices are low currently doesn't mean that owners need to sell for less than they feel the market will pay. And my point is being proven every day in Anchorage, the rental market is still tight and values are steady.

    Rent control is significantly different than publicly supported low income housing like Cook Inlet Housing. CIH does not set rents in the market, they subsidize the tennant so they can afford to rent in this market.

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    • #32
      Forced participation in the market through lay offs and forclosures is the only way good deals will be had, if everyone owned out right then companies would have to subsidize new workers rental costs otherwise the economy would stagnate (absent something like building the bridge with the bridge project buying out the land over there prior to construction so that tax payers are not subsidizing real estate speculators). I know if everyone owned out right and I were being squeezed I would seek a raise or a new job, either here or else where. But that's far from the situation because there always tons of people willing to leverage themselves out for 30 years at half the net family income.

      Originally posted by KantishnaCabin View Post
      I sure hope that there are never again single family homes going for $100K. A drastic market move in my opinion would be around 20%, and even that would be extremely painful for everyone. The nice thing about a free market is that you can choose to participate. If you think that prices are too high then you shouldn't buy. Rentals again are what the market will bare. If you don't want to live in fairview then pay to live on hillside. If enough buyers/renters believe as you do then the market will adjust and prices/rents will come down. But, the sky is not falling. Just because the market is down and oil prices are low currently doesn't mean that owners need to sell for less than they feel the market will pay. And my point is being proven every day in Anchorage, the rental market is still tight and values are steady.

      Rent control is significantly different than publicly supported low income housing like Cook Inlet Housing. CIH does not set rents in the market, they subsidize the tennant so they can afford to rent in this market.

      Comment


      • #33
        Also if rent keeps staying out of control buisness will petition the govt and prices of goods will go up due to wages going up to get people here, under the assumption that the sky is not falling. If the state/city is forced to buy up land at tax payer expense to put in high density housing (potentially through eminent domain) to keep costs in control then the land owners are bringing on the socialism themselves. I have read numerous articles about the rental crisis in Anchorage and land lords want to get top dollar while putting nothing into the properties. I think the city should be getting hard core with the slightest code violations and then forcing expensive remodels to regain compliance.

        All kinds of knobs the people and govt can turn if land owners want to get rude and inflexible, which they are doing.

        Originally posted by rppearso View Post
        Forced participation in the market through lay offs and forclosures is the only way good deals will be had, if everyone owned out right then companies would have to subsidize new workers rental costs otherwise the economy would stagnate (absent something like building the bridge with the bridge project buying out the land over there prior to construction so that tax payers are not subsidizing real estate speculators). I know if everyone owned out right and I were being squeezed I would seek a raise or a new job, either here or else where. But that's far from the situation because there always tons of people willing to leverage themselves out for 30 years at half the net family income.

        Comment


        • #34
          OK so I have been reading this from my phone on the slope but now that I am home and have access to my computer I decided to comment.
          It saddens me (OK I'm pizzed) as an oilfield worker in Alaska that there are those here salivating at buying my home for nickles on the dollar.
          I have been earning a living from the oil and gas industry for over 16 years. I worked steady for the last 12 years. 2 for a small company and 10 for the one they bought out. Then I got laid off in April.
          10+ years in the same oilfield camp and bam your done. That hurts for sure. no warning or anything just a phone call.
          So now I am working another job for less money and a worse schedule. Plus it's a new construction job that will likely only last until this project is completed.
          Then I have to read this garbage about how cheap my home will get and who can pick it up for the cheapest when my family is thrown out on the street! ( I'm not even close to that in any way shape or form)
          Seriously you didn't expect that to offend a few of us who's livelihoods depend on oilfield jobs?
          I also don't see how a landlord charging fair market value(or more/less) for his rentals has anything to do with my private home and/or it's value?
          They are not me nor I them and it isn't right to compare us as I own no rentals and do not intend to at this time.
          So the go pound sand comment is mild compared to what I am thinking as I read this.
          I know quite a few people who do not benefit much if at all from tourism. Same for commercial fishing.
          Yet I know of no one not receiving some benefits from the oil industry and have not met anyone refusing to cash their PFD check each fall.
          So chalk another one up to the not at all excited over home prices dropping crowd.
          "The closer I get to nature the farther I am from idiots"

          "Fishing and Hunting are only an addiction if you're trying to quit"

          Comment


          • #35
            Part of it is rental rates but the other part is over all purchase price, who the hell wants to pay 300-400 grand for a house that I can reach out and touch my neighbors house. But people are doing it and it seems like the only behavior modification is lay offs, I wish people just collectivly stood up and said we are not going to take the fleecing (while keeping their jobs) but thats not what is happening. The only reason people can get away with listing these outragious prices on the MLS is because people keep paying it.

            I dont want anyone to loose their jobs but I am also tired of being stuck between having to get fleeced myself or keep my life in a holding pattern, sorry man since people keep paying the jacked up prices the only thing left is hoping they loose their ability to keep paying for it.

            I am learning that the only way to not be the a hole is to pander and appologize but then you take it in the shorts financially, this whole real estate thing is antagonistic by its very nature. You would love to be able to sell your place for a 50k profit and live it up while the couple that bought it struggles but wanted a good school for their kids, but then someone like me comes along in bad finacial times and im the a hole lol.

            Originally posted by kasilofchrisn View Post
            OK so I have been reading this from my phone on the slope but now that I am home and have access to my computer I decided to comment.
            It saddens me (OK I'm pizzed) as an oilfield worker in Alaska that there are those here salivating at buying my home for nickles on the dollar.
            I have been earning a living from the oil and gas industry for over 16 years. I worked steady for the last 12 years. 2 for a small company and 10 for the one they bought out. Then I got laid off in April.
            10+ years in the same oilfield camp and bam your done. That hurts for sure. no warning or anything just a phone call.
            So now I am working another job for less money and a worse schedule. Plus it's a new construction job that will likely only last until this project is completed.
            Then I have to read this garbage about how cheap my home will get and who can pick it up for the cheapest when my family is thrown out on the street! ( I'm not even close to that in any way shape or form)
            Seriously you didn't expect that to offend a few of us who's livelihoods depend on oilfield jobs?
            I also don't see how a landlord charging fair market value(or more/less) for his rentals has anything to do with my private home and/or it's value?
            They are not me nor I them and it isn't right to compare us as I own no rentals and do not intend to at this time.
            So the go pound sand comment is mild compared to what I am thinking as I read this.
            I know quite a few people who do not benefit much if at all from tourism. Same for commercial fishing.
            Yet I know of no one not receiving some benefits from the oil industry and have not met anyone refusing to cash their PFD check each fall.
            So chalk another one up to the not at all excited over home prices dropping crowd.

            Comment


            • #36
              Yep! If you don't like the prices move to some place[state] cheaper.
              When seconds count, the cops are just minutes away.
              '08 24' HCM Granite HD "River Dog"
              2018 12' Moto Jet "River Pup"

              Comment


              • #37
                rrpearso, what do you want? What is the purpose of your *****ing?

                Do you want price controls? Why do you keep complaining? What is your solution?
                ΜΟΛΩΝ ΛΑΒΕ

                Comment


                • #38
                  Originally posted by rppearso View Post
                  Part of it is rental rates but the other part is over all purchase price, who the hell wants to pay 300-400 grand for a house that I can reach out and touch my neighbors house. But people are doing it and it seems like the only behavior modification is lay offs, I wish people just collectivly stood up and said we are not going to take the fleecing (while keeping their jobs) but thats not what is happening. The only reason people can get away with listing these outragious prices on the MLS is because people keep paying it.

                  I dont want anyone to loose their jobs but I am also tired of being stuck between having to get fleeced myself or keep my life in a holding pattern, sorry man since people keep paying the jacked up prices the only thing left is hoping they loose their ability to keep paying for it.

                  I am learning that the only way to not be the a hole is to pander and appologize but then you take it in the shorts financially, this whole real estate thing is antagonistic by its very nature. You would love to be able to sell your place for a 50k profit and live it up while the couple that bought it struggles but wanted a good school for their kids, but then someone like me comes along in bad finacial times and im the a hole lol.
                  I know guy who moved to Kentucky. You should see the house he got for just over 300K Place is huge with some acreage if I remember correctly.
                  He could have gotten a decent single family home for much much less but had the budget for the bigger house.
                  I hate to say it but Alaska isn't for everybody. If you can't afford it well then...... there's always cheaper places in the USA to live.
                  I don't believe a pickup truck should cost $60K+ but that's the nationwide price for a new 1 ton diesel truck. I would also like to see people refuse to pay that much but don't really expect it to happen.
                  there are also cheaper places to buy an Alaskan home than Anchorage. Mine n the Soldotna area was nowhere near 400K in fact I paid less than 250K with over an acre for a 3 bedroom 2 bath house. On a nice lot that doesn't allow me to see any neighbors from my windows.
                  "The closer I get to nature the farther I am from idiots"

                  "Fishing and Hunting are only an addiction if you're trying to quit"

                  Comment


                  • #39
                    Originally posted by Akheloce View Post
                    rrpearso, what do you want? What is the purpose of your *****ing?

                    Do you want price controls? Why do you keep complaining? What is your solution?
                    I believe his solution is half this state being unemployed and the other half being not far from it as well with families living on the street so he can snatch up their foreclosed homes for nickles on the dollar.
                    He wants our homes for cheap at whatever cost or whatever grievance it brings the rest of us so long as he gets his for nickles on the dollar.
                    At least that's what I read from his posts and the way he wrote them.
                    Had he worded it so as not to sound happy for those facing the loss of their home it may not have upset me so much.
                    "The closer I get to nature the farther I am from idiots"

                    "Fishing and Hunting are only an addiction if you're trying to quit"

                    Comment


                    • #40
                      For information ONLY........I have no dog in this fight. But I lost $963,000.00 in the Great Alaska Depression (1983 to 1993), and I would never want anyone to have to endure what I suffered for eight years. Just for information: https://finance.yahoo.com/news/why-t...212143907.html
                      "Life Is Either a Daring Adventure or Nothing" - Helen Keller

                      Comment


                      • #41
                        Another factor was that in 1986-87 the Internal Revenue made huge changes in Tax Code that adversely effected Real Estate. One being the elimination of double declining balance depreciation, and the ability to use that right-off against (Off-Set) regular earned income. They also eliminated the "ITC" provision (Investment Tax Credit).
                        "Life Is Either a Daring Adventure or Nothing" - Helen Keller

                        Comment


                        • #42
                          Well originally I was hoping to get into an intellectual discussion about where the market was going and to see who else was saving and waiting to jump on some good deals, which I have with one poster. I am just as worried about lay offs as anyone else but if I dodge the lay offs then the silver lining is I may not have to be an indentured servant to a bank to pay for some one elses inflated sense of worth in their property. I would prefer not to move because I have family here and have lived here most of my life.

                          I am not socialist but I think the city needs to crack down by eminent domain and build high density housing (not cook inlet) and start hammering people that are not in code compliance, too many slum lords and boarder line slum lords in this town. Its sounds like I am fairly alone in my thinking, if so then so be it.

                          Originally posted by Akheloce View Post
                          rrpearso, what do you want? What is the purpose of your *****ing?

                          Do you want price controls? Why do you keep complaining? What is your solution?

                          Comment


                          • #43
                            Thats nice if you work in Soldotna (BTW 250k is pretty steep for soldotna since wages are likely lower there and there are less jobs). Alot of people live in Anchorage and dont want the absolutly horrid commute to the valley. Like you said about the trucks, people wont stop running prices up on you unless they loose their source of revenue. THAT is why I am not super sad to see lay offs so long as its not me. When people are willing to pay high prices, get involved in bidding wars, etc they are indirectly negitivly effecting my quality of life so why should I be nice about it and hope people can keep running costs up on me?

                            Originally posted by kasilofchrisn View Post
                            I know guy who moved to Kentucky. You should see the house he got for just over 300K Place is huge with some acreage if I remember correctly.
                            He could have gotten a decent single family home for much much less but had the budget for the bigger house.
                            I hate to say it but Alaska isn't for everybody. If you can't afford it well then...... there's always cheaper places in the USA to live.
                            I don't believe a pickup truck should cost $60K+ but that's the nationwide price for a new 1 ton diesel truck. I would also like to see people refuse to pay that much but don't really expect it to happen.
                            there are also cheaper places to buy an Alaskan home than Anchorage. Mine n the Soldotna area was nowhere near 400K in fact I paid less than 250K with over an acre for a 3 bedroom 2 bath house. On a nice lot that doesn't allow me to see any neighbors from my windows.

                            Comment


                            • #44
                              It only upsets people with a dog in the fight, im sure you would be smiling ear to ear if you made 50 grand in the sale of your house while some young family suffered and struggled to pay their mortgage every month, but thats just the market right.

                              Originally posted by kasilofchrisn View Post
                              I believe his solution is half this state being unemployed and the other half being not far from it as well with families living on the street so he can snatch up their foreclosed homes for nickles on the dollar.
                              He wants our homes for cheap at whatever cost or whatever grievance it brings the rest of us so long as he gets his for nickles on the dollar.
                              At least that's what I read from his posts and the way he wrote them.
                              Had he worded it so as not to sound happy for those facing the loss of their home it may not have upset me so much.

                              Comment


                              • #45
                                But those are still in effect today

                                Originally posted by AGL4now View Post
                                Another factor was that in 1986-87 the Internal Revenue made huge changes in Tax Code that adversely effected Real Estate. One being the elimination of double declining balance depreciation, and the ability to use that right-off against (Off-Set) regular earned income. They also eliminated the "ITC" provision (Investment Tax Credit).

                                Comment

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