It's not gonna be like the 2008 crash, people who keep waiting for it to correct

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Oct 15, 2021
7:33:51am

RockyBalboa All-American

Are gonna be waiting a looong time.

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RockyBalboa

Previous username: MesaCougar
Bio page: RockyBalboa
Joined: Apr 24, 2002
Last login: Jun 17, 2024
Total posts: 48,689 (1,444 FO)

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Messages

Author

Time

Ouch....I knew real estate was rising in Utah...but I always get whiplash seeing the #'s....

mokelembembe Truly Addicted User

10/15/21 7:14am

We were considering moving back to the west.

IGlowInTheDark

10/15/21 7:21am

Lol this is like over half of the reason why I left

Hotlanta

10/15/21 7:23am

So you’re saying that not buying property in Summit county like I thought of

NOCAL_YFAN

10/15/21 7:24am

It will correct.. it always does…

crm48

10/15/21 7:31am

What if this *IS* the correction

Mike Honcho

10/15/21 7:33am

It's not gonna be like the 2008 crash, people who keep waiting for it to correct

RockyBalboa

10/15/21 7:33am

I think you are probably right. But. . .

Madam Pattirini

10/15/21 7:40am

No doubt.

RockyBalboa

10/15/21 7:54am

Correct means slow down, imo. I don't think it's going to crash to 5 years ago

LiveCoug

10/15/21 7:34am

Laws of economics will catch up with this artificial economy we are in… prices are high in many sectors due to increases

crm48

10/15/21 8:08am

Supply is 5-10 years behind right now.

YSMACK

10/15/21 8:19am

Your first statement is what exactly causes sharp corrections… “gaps” in demand and supply leading to record ramps in

crm48

10/15/21 8:28am

Sharp? Sure, maybe. Soon? Not likely.

YSMACK

10/15/21 8:39am

If that’s the case, it will need to be something that continues to disrupt the supply chain over that period… because in

crm48

10/15/21 8:50am

How bad of a collapse do you expect?

Hotlanta

10/15/21 8:54am

My belief is that a timing of a big correction will be when slowing demand will meet up with these huge influxes in

crm48

10/15/21 9:37am

SLC is like Denver 15 years ago. Prices shot up considerably and never came back

WDaddy

10/15/21 7:35am

Theirs were all move ins. In Utah you have lots of "i want to stay in zion" folk

fulano

10/15/21 7:38am

I keep hearing it's driven by Californians....

TheHop

10/15/21 7:40am

That is happening all over the west but our home grown demand is an added factor

fulano

10/15/21 7:43am

Everyone loves to blame it on Californians, but every time a new family moves

wannnacruise

10/15/21 7:54am

I guess. But SLC prices are behaving similarly.

WDaddy

10/15/21 7:43am

U-Haul publishes some data re rates of migration to/from states. Utah slowed in

Abe Froman

10/15/21 8:48am

Sure, downtown markets will hold much better dude to new supply constraints and the demand in those markets… I wouldn’t

crm48

10/15/21 8:10am

Even a catastrophic correction wouldn't drop below the recent moonshot

Hotlanta

10/15/21 7:36am

It has already started to correct, ie level off, but it’s not going to crash.

Junior Deputy

10/15/21 7:41am

Incorrect

Backcountry

10/15/21 7:56am

We're still at LEAST 5 years away from catching up w inventory needs.

YSMACK

10/15/21 7:59am

Maybe so, but the longer these spikes in demand last, at lease historically, the sharper the fall…I don’t think it takes

crm48

10/15/21 8:18am

If it takes 5 years Utah is in trouble.

rad dawg

10/15/21 8:22am

5 is the low end estimate.

YSMACK

10/15/21 8:28am

Im early 30s but most of us arent pooping bricks.

rad dawg

10/15/21 7:39am

My house more than double in price in less than 8 years. It's insane. I hope my

Benfica1

10/15/21 7:59am

I think multi-generational housing will become more and more common in the US

Hotlanta

10/15/21 8:05am

It might even be forced if we just let the carbon rowd takeover like seems to be happening. You don't get the option of

mokelembembe

10/15/21 8:35am

Step back from the ledge

Hotlanta

10/15/21 8:38am

They'll be some exemptions of course. The Nancy Pelosi's of the world won't have to abide by it. But some guy that sells

mokelembembe

10/15/21 8:46am

My grandparents thought the same thing about my parents.

JohnnyC

10/15/21 8:31am

We used to live in Utah, and were considering moving back

MapCoug

10/15/21 8:44am

There are tons, how close do you need to be to what size airport?

Hotlanta

10/15/21 8:47am

RE: There are tons, how close do you need to be to what size airport?

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