Supply is 5-10 years behind right now.

Oct 15, 2021
8:19:36am

YSMACK Intervention Needed

We have a massive housing shortage. It is so bad that the state adjusted ADU laws to try and help provide more housing options. The laws of economics aren't in favor of any near correction.

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YSMACK

Bio page: YSMACK
Joined: Oct 29, 2001
Last login: May 3, 2024
Total posts: 51,969 (3,163 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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