Park County property value drops 6.8% in 2 years - Flume

Values are dropping so fast assesors are gettting calls complaining. They are more used to calls saying their homes are being assessed at too high of value. I lost $15K on mine this year.

I couldn't disagree more. The value of the dollar is dropping and this can only pressure housing prices up along with everything else. It will take a few years, but the prices are going back up.

towermonkey wrote: I couldn't disagree more. The value of the dollar is dropping and this can only pressure housing prices up along with everything else. It will take a few years, but the prices are going back up.

I hope you are right, but if people continue to spend more on food and fuel, they will have less to spend on housing, and mini-manisons will fall out of style. You might even see if the economy worsens, those big homes divided and sublet.

The economy is going to get worse.

This is the "Calm Before the Storm"....

The sky is falling....

Why did the chicken run across the road?

SS109 wrote: You might even see if the economy worsens, those big homes divided and sublet.

If gas prices keep going the way they are going, I doubt they'd even be good for that. Who would want to live out in some McMansion tenement in the wilds of Douglas County when it costs you $30 a day to commute to your job?

Maybe they'd make good chicken coops. Or maybe the meth cookers will be pushed out of the cities as demand rises for close-in housing.

AspenValley wrote:

SS109 wrote: You might even see if the economy worsens, those big homes divided and sublet.

If gas prices keep going the way they are going, I doubt they'd even be good for that. Who would want to live out in some McMansion tenement in the wilds of Douglas County when it costs you $30 a day to commute to your job from their.

Maybe they'd make good chicken coops. Or maybe the meth cookers will be pushed out of the cities as demand rises for close-in housing.

The Middle East will settle down in time and oil prices will return to reasonable levels. WIth that fuel price ought to return to more accustomed levels also. Let's hope it is soon. Meanwhile property values may decrease, but anyone who can hold on will see their investment rise in good time. The old saying goes, they're not making more land. We've lost over 100k in equity we put into the house in terms of down payment, thus not a paper loss. This does not even count the un-financed amounts we put into the actual building costs. It's not a pretty picture, but we're staying put as long as I can keep working.