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Rep Retirement Lodge 197: Hot! Hot! Hot!

Rep Retirement Lodge 197: Hot! Hot! Hot!

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Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Greyeagle said:
I swear I saw your twin this morning at Target, except your twin had a handlebar mustache.
For the love of God don't ever do that, was not a good look on you. :eek:
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Do you know how fast the pedo police would be on him?! (note: this is NOT a personal shot at DX, it's a shot at the general look of that person.....it'd be like me sporting a porn 'stache)
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

I’m.... uh. Not sure how to respond to that.

I think I’m offended.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Good Evening Lodge!

Lottsa rain coming in the mid-Atlantic. Don't we have someone from the lodge residing there? Hope everything will be OK.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Another auction tonight. Way too high of prices, I was in for a while, but bowed out at just under $600k. With prices as low as they are, guys will be going broke soon, will be more land out there to buy. Prevailing thought is that the market will be flooded in the next year, so I'll have more chances, at likely a much better price. Also helps that I have the chunk I bought in July to fall back on, better land, for a lower price than we saw today.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

bigblue_dl said:
Another auction tonight. Way too high of prices, I was in for a while, but bowed out at just under $600k. With prices as low as they are, guys will be going broke soon, will be more land out there to buy. Prevailing thought is that the market will be flooded in the next year, so I'll have more chances, at likely a much better price. Also helps that I have the chunk I bought in July to fall back on, better land, for a lower price than we saw today.
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Some of us were talking about this at Forager, and again at LTD, with the housing/land. There's gonna be another bubble burst. It's a matter of when.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Brenthoven said:
Some of us were talking about this at Forager, and again at LTD, with the housing/land. There's gonna be another bubble burst. It's a matter of when.
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Its soon for Ag land. The banker said tonight that 7 out of 10 ag loans at the local bank are at risk of defaulting. Its going to be ugly. Need to be in a position to capitalize.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

bigblue_dl said:
Its soon for Ag land. The banker said tonight that 7 out of 10 ag loans at the local bank are at risk of defaulting. Its going to be ugly. Need to be in a position to capitalize.
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Yep. I think it's more subtle this time...have to look at apt prices. The new ones in downtown Hopkins and the new ones in Ridgedale are asking $1300/mo for a studio. Over $3000/mo for a 3BR. I think people will flood to houses/townhouses, and then it will really get crazy.

I remember the first burst...and I realized it was coming when houses in ghetto-arse Robbinsdale with no lawn to speak of and neighbors 5 feet away were getting over 200K. It was ridiculous.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

That’s all hyperlocal trend not a macroeconomic risk due to entire markets from being gutted due to politics.

70% at risk of default is close or worse than the Great Recession was for home ownership. Probably around the impact to real estate in Florida, New York, and California. That’s really quite worrisome.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

dxmnkd316 said:
That’s all hyperlocal trend not a macroeconomic risk due to entire markets from being gutted due to politics.

70% at risk of default is close or worse than the Great Recession was for home ownership. Probably around the impact to real estate in Florida, New York, and California. That’s really quite worrisome.
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It is hyperlocal, I agree. I offer this: if we see that here...then what is happening in the bigger markets that you mentioned?
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Brenthoven said:
Yep. I think it's more subtle this time...have to look at apt prices. The new ones in downtown Hopkins and the new ones in Ridgedale are asking $1300/mo for a studio. Over $3000/mo for a 3BR. I think people will flood to houses/townhouses, and then it will really get crazy.

I remember the first burst...and I realized it was coming when houses in ghetto-arse Robbinsdale with no lawn to speak of and neighbors 5 feet away were getting over 200K. It was ridiculous.
Click to expand...

You're talking something completely different, and unrelated to what I'm saying. This has nothing to do with housing. That bubble may burst at some point too, but the drivers and indicators are completely different from the markets I'm referring to.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

bigblue_dl said:
You're talking something completely different, and unrelated to what I'm saying. This has nothing to do with housing. That bubble may burst at some point too, but the drivers and indicators are completely different from the markets I'm referring to.
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I am commenting on land/property in general. There is only so much, and with growing population, with different goals (development, etc), Ag is gonna get hit, because inner city and the suburbs are getting too expensive. I remember when Elk River was a VERY rural town. Lakeville, too. One area affects the other, you know?
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

Brenthoven said:
I am commenting on land/property in general. There is only so much, and with growing population, with different goals (development, etc), Ag is gonna get hit, because inner city and the suburbs are getting too expensive. I remember when Elk River was a VERY rural town. Lakeville, too. One area affects the other, you know?
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Yeah, but that impact has nothing to do with what I'm talking about. In fact, its the opposite. More Ag land being used for developing would actually drive up the value of Ag land, not cause it to crash.
 
Re: Rep Retirement Lodge 197: Hot! Hot! Hot!

bigblue_dl said:
Yeah, but that impact has nothing to do with what I'm talking about. In fact, its the opposite. More Ag land being used for developing would actually drive up the value of Ag land, not cause it to crash.
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Ag is in trouble, so lowball. Oh, because of lack of Ag, you're in debt. Here's 75% of actual value. Wanna try and recover some of that?
 
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