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That seems to be a place that can be very prone to bubbles. Yes housing costs are very high almost everywhere, and rent even worse. But Steamboat seems to onl
by jmclnx 3y ago
That seems to be a place that can be very prone to bubbles. Yes housing costs are very high almost everywhere, and rent even worse. But Steamboat seems to only survive on the Tourism Industry.
I think a place like Steamboat will have a big crash some day, so best people stay clear, which is happening. If I lived there and owned a house, I would sell and move elsewhere, especially if fully paid off. $1 million can help you a lot.
- ghaff 3y agoAnecdotally, I've heard from friends that sort of thing happens with some regularity. A (especially second home) ski condo is one of the most optional large assets you can imagine and even more so if it's really inflated in price. (A lot of people probably also grow out of this sort of thing over time.) As an aside, a second home is something that's never appealed to me. Neither the effort, the expense, nor the ties to a specific location seem like great tradeoffs for most people.