RE: Idaho Springs, CO by azircon

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Viewing a response to: @seattlea/re-azircon-202583t20213206z

hive-163772 · @azircon · 2025-08-04T11:53:57+00:00

Too expensive there! Beyond me. 

If I can't rent it near median rental of a single family home I don't buy it. Trouble is, I can't do it anywhere these days! Perhaps Timbuktu is an option! :)

👎 mmmmkkkk311, ctime, bluesniper, mariuszkarowski, zeltra, primeradue, gaskets, ovlagik

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@seattlea · 2025-08-04T15:20:30+00:00

It is the interest rates and high valuations of the homes that were caused by under 3% mortgage rates. To make it workable houses probably need to come down about 25% or more and rates need to be closer to 4%

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@azircon · 2025-08-04T15:25:39+00:00 (edited)

50% in your market.

Probably 25-30% in mine.

Yeah. I can perhaps make it work at 4.5 % for 30-yr-fixed. 4% would be great!

👎 mmmmkkkk311, ctime, bluesniper, sonntags, mariuszkarowski, csport, tenpik, zeltra, gaskets, labutamol, ovlagik, mk-photo-token

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@seattlea · 2025-08-04T17:51:51+00:00

$0.66

50% is not very likely to happen in Seattle market, maybe 30%... During the 2008 crisis housing nationwide corrected 33% 
Here is what our market did:
![](https://images.ecency.com/DQmQRx46BiUAADs6qi86qiXmobBwcdz8LcKTQT8n3ezpzQf/image.png)

Notice supply started to build in 2005 and closed sales started to drop in 2005 and it took 3 years and that lending crash of 2008 to see the drop. Inventory in 2005 was at 2 months and it built all the way up to 7-9 months before the prices started dropping. 

If you look at this chart Seattle has been stuck price wise since 2022:

![](https://images.ecency.com/DQmckQGT5KUEFtY95h8ncmhwmBteXaQa1zZ1cx1pjygYKDr/image.png)

Months of Inventory: Increased to 2.85 so it feels like we are in 2006 right now and about two years before the prices will really start dropping, though history doesn't really repeat itself and it could be very different this time.

👍 azircon

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