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  • Still not much movement on the housing prices, I am thinking perhaps the spring early summer we might see the correction.

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    • I don't think the prices will be dropping too much, houses are still moving at the current prices


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      • I am noticing homes are sitting longer, some are moving at inflated prices but I am noticing more houses sitting longer. Also a new round of Ch2 lay offs is coming down the pipe. Something is going to eventually give.

        Originally posted by akriverunner View Post
        I don't think the prices will be dropping too much, houses are still moving at the current prices


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        • Originally posted by rppearso View Post
          Still not much movement on the housing prices, I am thinking perhaps the spring early summer we might see the correction.
          I'm still confused on what this correction is?
          The market sets itself does it not?
          If you want a cheap house move where cost of living is cheap.
          That's not in Alaska by the way.
          My (now ex) brother in law had many job offers across the country after he graduated college as an electrical engineer.
          He chose Iowa over California because cost of a house was less than 1/3 of the price in Iowa for a nice place.
          Even though he started at a smaller salary it made better sense financially.

          As for CH2 layoffs which group are you talking about?
          Point Thompson? Or ???
          I can't see enough layoffs left from CH2MHill to effect the housing market significantly.
          Please enlighten me as I do have some first hand knowledge.
          I also know they do have a few small projects starting up soon on the slope.
          That and there is another company about to start a major slope project who will be hiring a bunch of workers.
          Not enough to fix this state's financial crisis but at this point anything helps.
          "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"

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          • That's why this would be real estate speculation. Also interest rates are already rising which will squeeze low income people completely out thus reducing any sort of bidding wars with people who don't actually have money. But your right it is speculation, but not speculation without merit and I am willing to wait and see if the market corrects to reflect the current events.

            Originally posted by kasilofchrisn View Post
            I'm still confused on what this correction is?
            The market sets itself does it not?
            If you want a cheap house move where cost of living is cheap.
            That's not in Alaska by the way.
            My (now ex) brother in law had many job offers across the country after he graduated college as an electrical engineer.
            He chose Iowa over California because cost of a house was less than 1/3 of the price in Iowa for a nice place.
            Even though he started at a smaller salary it made better sense financially.

            As for CH2 layoffs which group are you talking about?
            Point Thompson? Or ???
            I can't see enough layoffs left from CH2MHill to effect the housing market significantly.
            Please enlighten me as I do have some first hand knowledge.
            I also know they do have a few small projects starting up soon on the slope.
            That and there is another company about to start a major slope project who will be hiring a bunch of workers.
            Not enough to fix this state's financial crisis but at this point anything helps.

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            • Lay offs are field wide. Yes you will see affects soon enuff. I am one of lucky ones that is still employed at time. But I know many who aren't working. I can tell this none of guys up who are working are spending money on anything.


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              Do I give my friends advice? Jesus, no. They wouldn't take advice from me. Nobody should take advice from me. I haven't got a clue about anything..

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              • Originally posted by akmike30 View Post
                Lay offs are field wide. Yes you will see affects soon enuff. I am one of lucky ones that is still employed at time. But I know many who aren't working. I can tell this none of guys up who are working are spending money on anything.


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                I know this all too well as I was laid off from the slope in April of 2015 after 10 years with the same company.
                Fortunately I found another slope job for now.
                It will end eventually though.
                But there are not a lot of positions left to cut anywhere in the oilfield and still keep them running.

                I guess for me I never thought of the market downturn as a "correction" though.
                Just a drop in the housing market as it falls with our economy.
                That's what I was getting at.
                "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"

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                • I guess I consider it a correction becasue anchorage housing is well over 2.5 times the average annual income. That means there is too many people in a small space driving up the price. I dont know if that counts as an official "correction", but I feel the anchorage housing market has been inflated for quite some time.

                  Originally posted by kasilofchrisn View Post
                  I know this all too well as I was laid off from the slope in April of 2015 after 10 years with the same company.
                  Fortunately I found another slope job for now.
                  It will end eventually though.
                  But there are not a lot of positions left to cut anywhere in the oilfield and still keep them running.

                  I guess for me I never thought of the market downturn as a "correction" though.
                  Just a drop in the housing market as it falls with our economy.
                  That's what I was getting at.

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                  • Originally posted by rppearso View Post
                    I guess I consider it a correction becasue anchorage housing is well over 2.5 times the average annual income. That means there is too many people in a small space driving up the price. I dont know if that counts as an official "correction", but I feel the anchorage housing market has been inflated for quite some time.
                    Reading your posts would lead one to believe that you feel someone or some government agency is causing our real estate prices to be artificially inflated.
                    I think we live in a state with a high cost of living and high housing costs.
                    But it is also a state with a higher average income at least until this oil price drop occurred.
                    "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"

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                    • When the lay offs happen it won't do much to housing prices, because a lot of the slope workers don't live in Alaska. If we have more reductions in the military in the Anchorage area it would cause a bigger drop in prices. Rentals will take big hit too at that point.
                      Originally posted by rppearso View Post
                      I am noticing homes are sitting longer, some are moving at inflated prices but I am noticing more houses sitting longer. Also a new round of Ch2 lay offs is coming down the pipe. Something is going to eventually give.

                      Comment


                      • Originally posted by MGH55 View Post
                        When the lay offs happen it won't do much to housing prices, because a lot of the slope workers don't live in Alaska. If we have more reductions in the military in the Anchorage area it would cause a bigger drop in prices. Rentals will take big hit too at that point.
                        I believe the last numbers I heard was ~33% live out of state.
                        And for the record the layoffs en masse started in late winter/early spring of 2015.
                        While they are still ongoing it's getting slim at a lot of camps including both the Conoco and BP sides.
                        "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"

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                        • The costs are caused by market forces. but the market has been much higher than I have wanted to pay, until now. Prices are slipping as we speak, I have been closely watching prices.

                          Rentals have not been effected but house prices have because the jobs that are being lost are higher paying jobs. Most military jobs are low pay (but they still get BAH) other than for higher ranks as well as the various service jobs. Also interest rates are rising (http://www.bankrate.com/finance/mort...est-rates.aspx) which will prevent low income people from bidding as they wont qualify anymore without a substantial down payment.

                          Originally posted by kasilofchrisn View Post
                          Reading your posts would lead one to believe that you feel someone or some government agency is causing our real estate prices to be artificially inflated.
                          I think we live in a state with a high cost of living and high housing costs.
                          But it is also a state with a higher average income at least until this oil price drop occurred.

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                          • Best of luck to you.
                            Don't wait too long or your dream house may get snatched up by someone willing to pay the going rate for it.
                            I paid slightly more than I wanted to for my house.
                            But I knew after looking at it that I would not need to buy another in my lifetime.
                            And after some haggling we came to a price we could all agree on.
                            I wasn't willing to settle for another house or wait years for prices to drop.

                            Sent from my HTC One_M8 using Tapatalk
                            "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"

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