It's the free market that's the problem?ousdahl wrote: ↑Fri Jun 18, 2021 10:49 amA hot topic of discussion here is on local housing issues.twocoach wrote: ↑Fri Jun 18, 2021 10:43 amFull time residents are definitely getting squeezed out in CO vacation markets. There simply isn't as much available to full time residents like there was in the days before vrbo, airbnb, etc... Many investors are finding that they make far more money on a house if they rent it out to vacationers a handful of times a year than if they rent it all yea long to a resident. And the impact of reduced immigration has hit the CO home building market hard. There just aren't enough workers to make it an affordable venture to build lower priced homes.ousdahl wrote: ↑Fri Jun 18, 2021 10:13 am I live in a resort market though. It’s overwhelmingly second homes.
So it’s difficult to find a single family home for under a mil here any more. Winter Park used to be the anti-Vail, but now it’s just Vail 2.0.
I’m competing with Texans who can afford to drop 7 figures on their vacation spot. They used to only be up here for 2 weeks a year, but now they’re up here for 2 weeks plus rent it out on Airbnb the rest of the year.
I could maybe get like a small condo, but then I’m also looking at like $500 a month in HOA fees
Local gummints are trying to build local housing, impose taxes short term rentals to pay for it, etc.
But there’s all these folks like THIS WOULDNT BE A PROBLEM IF WE’D JUST LET THE FREE MARKET WORK ITS WONDERS
And it’s like, actually no, the free market is precisely what created this housing crisis.
Or a tourist area growing faster than it can keep up with?