I really love that you aren't afraid to be "human" in your writing. Much more relatable than some of the dry content out there. You are quickly becoming one of my most trusted sources of information for the housing market because of how thoughtful you are.
1. Really appreciate your writings and read them as soon as i notice they are out. Well researched and well thought out. I don't always agree, but they are always worth reading.
2. We kicked the can in 08 and never let anything reset and I have been saying this since, it's obvious when you look back how far living standards have devolved.
3. Denver native here. Moved in and out for a year or two but always back to home. In 2020 after the idiocy (which they were big into) packed up the family, sold the house for a utterly ridiculous price and moved to a small town (NOT in colorado which at this point is just Eastern California and not in a good way) and paid cash with the "winnings" from selling the house. Everyone I know that had a business, productive, big money maker has pulled up stakes and left, after 20/30/100 years there. It's all just takers and fakers at this point.
Dunno if you now but they changed the property tax laws, so it now goes up with the valuation. And of course when they revalued in 2022............guess what? values were way up. AVERAGE valuation in Denver metro was up like 35%. That means a jump in property taxes of 35% AVERAGE. Colorado isn't going to be a low tax state for long (see above about Eastern California). And insurance is close to double because things got expensive, new laws, big fires, etc. Denver (colorado) is going to be just like florida. All those 3% mortgage people who are barely making it and their taxes go up 50% and their insurance doubles (which already isn't cheap). Yeah your conclusion is dead right.
Also you weren't there, but legalizing pot destroyed Colorado. It went from being ok to being a total disaster in 5 years.
Wow. Thank you for this as I always feel a little guilty when I don't speak super fondly of a city. And this phrase is awesome: "t's all just takers and fakers at this point." Are you a writer as well? I'm glad you got out and I love when I hear stories like yours - people who get rewarded for paying attention. It's just all so sad....somehow things have to change. Hopefully I can help educate people so more folks can make good decisions like yours. And thank you for reading. I love constructive dialogue and counterpoints, so open always to hearing the other side. Happy New Year!
As an avid follower, I had an idea while reading the above masterpiece. I'm a Boomer (1956) right in the middle of it). Our home is paid off, thanks to years of living beneath our means. Not FIRE at all, I still am working 50+ hours a week. I wonder if the anticipated roll over of the Boomers wealth will turn into one big FY, we spent it all. Reverse mortgages (ripoffs all, but common) will suck the equity out of the homes Boomers own and it's not beyond comprehension that Mummy and Daddy (if still together) will leave this world with nothing to leave the next generation. A variation of this awaits lots of the next generation.
Nobody saves anything, spends everything "Cuz we deserve it" and march to "keep your government hands off my Medicare and Social Security." What did the Greatest Generation do after defeating Nazism ? Came home and dug the mess we have now in DC, hollowing out the industrial base to the PRC/CCP (what a demographic disaster they have) and running deficits that don't matter. Ask Dick Cheney, or anyone in the MMT camp. When the Fed adopts perverse incentives to roll everything into the stonk market and housing this is what ya get. We had a good run almost doubling the assets of the top 1% from 14% to 21% since about 2005. Keep up the good work as this country goes on sale to Black Rock when CRE implodes and all those loans fully adjust to 8%, Dovish pivot or not.
You are on fire! Agree, agree. And, I just found out that HUD has been quietly selling vacant homes where the reverse mortgage is in default and the heirs aren't paying. This year and the years ahead are going to very interesting. Thank you as always and Happy New Year!
Buy or rent? We are currently renting a 4bed townhome, lease ends next spring. Spoke to our financial advisor he says we are ready but we feel nervous because we are not “mainstream” narrative people and listen to you, danielle, peter schiff etc. we are eager and value your opinion! Basically we want wise counsel. I was wondering if you can give me your .02. I recall your nephew lives here in Denver and you did ima few yrs ago so you get it. We are also debt free and make 260-270k before taxes. We have two kids could use the space but just feel anxious to do anything based on what im hearing with you, sachs etc.
Hello Melody, I have been watching your videos. They are great. I pledged your site to read the article you wrote about Denver metro real estate. Can you send me that? I cant find it.
Sup Melody. Thanks for the updates. I'm in the DFW area, and Id be interested in any info you could point me to about the state of the market here, especially alternate rental/for sale listings that aren't Zillow etc. (I know you've mentioned in your videos local listing services). I was going to ask in a twitter pm but I cant message you there.
I also recently drove by a new build site near me and saw much of the things you mentioned, such as employee cars parked in driveways that were obviously not sold, empty fields behind walls, etc.
Hi - so the best way to find listings that are not on the MLS are actually by driving around or getting to know some realtors in your area. Dallas has a ton of inventory, so there is going to be trouble. Is there a specific area which interests you?
Melody, what do you mean by, "In the near future, I hope to have a semi-formal scoring system, but until then my outlook for Denver is not good." When you say, not good, does that mean a crash coming to Denver because its inflated prices? Thanks for a great recap.
Hi Emily - I'm hoping to formalize a scoring system that can give people indications about what I think will happen there and when. Every market is different, but yes, Denver is in for a serious correction. The disconnect between median income and housing prices is untenable. And sales are down even now. Prices will come down. Stay tuned as I try to put together a "warning" system for everyone. And, thank you so much for the support. Happy New Year!
I really love that you aren't afraid to be "human" in your writing. Much more relatable than some of the dry content out there. You are quickly becoming one of my most trusted sources of information for the housing market because of how thoughtful you are.
Thank you so much....that affirmation is needed as I always feel a bit vulnerable when I do share. And thank you so much for reading!
1. Really appreciate your writings and read them as soon as i notice they are out. Well researched and well thought out. I don't always agree, but they are always worth reading.
2. We kicked the can in 08 and never let anything reset and I have been saying this since, it's obvious when you look back how far living standards have devolved.
3. Denver native here. Moved in and out for a year or two but always back to home. In 2020 after the idiocy (which they were big into) packed up the family, sold the house for a utterly ridiculous price and moved to a small town (NOT in colorado which at this point is just Eastern California and not in a good way) and paid cash with the "winnings" from selling the house. Everyone I know that had a business, productive, big money maker has pulled up stakes and left, after 20/30/100 years there. It's all just takers and fakers at this point.
Dunno if you now but they changed the property tax laws, so it now goes up with the valuation. And of course when they revalued in 2022............guess what? values were way up. AVERAGE valuation in Denver metro was up like 35%. That means a jump in property taxes of 35% AVERAGE. Colorado isn't going to be a low tax state for long (see above about Eastern California). And insurance is close to double because things got expensive, new laws, big fires, etc. Denver (colorado) is going to be just like florida. All those 3% mortgage people who are barely making it and their taxes go up 50% and their insurance doubles (which already isn't cheap). Yeah your conclusion is dead right.
Also you weren't there, but legalizing pot destroyed Colorado. It went from being ok to being a total disaster in 5 years.
Wow. Thank you for this as I always feel a little guilty when I don't speak super fondly of a city. And this phrase is awesome: "t's all just takers and fakers at this point." Are you a writer as well? I'm glad you got out and I love when I hear stories like yours - people who get rewarded for paying attention. It's just all so sad....somehow things have to change. Hopefully I can help educate people so more folks can make good decisions like yours. And thank you for reading. I love constructive dialogue and counterpoints, so open always to hearing the other side. Happy New Year!
As an avid follower, I had an idea while reading the above masterpiece. I'm a Boomer (1956) right in the middle of it). Our home is paid off, thanks to years of living beneath our means. Not FIRE at all, I still am working 50+ hours a week. I wonder if the anticipated roll over of the Boomers wealth will turn into one big FY, we spent it all. Reverse mortgages (ripoffs all, but common) will suck the equity out of the homes Boomers own and it's not beyond comprehension that Mummy and Daddy (if still together) will leave this world with nothing to leave the next generation. A variation of this awaits lots of the next generation.
Nobody saves anything, spends everything "Cuz we deserve it" and march to "keep your government hands off my Medicare and Social Security." What did the Greatest Generation do after defeating Nazism ? Came home and dug the mess we have now in DC, hollowing out the industrial base to the PRC/CCP (what a demographic disaster they have) and running deficits that don't matter. Ask Dick Cheney, or anyone in the MMT camp. When the Fed adopts perverse incentives to roll everything into the stonk market and housing this is what ya get. We had a good run almost doubling the assets of the top 1% from 14% to 21% since about 2005. Keep up the good work as this country goes on sale to Black Rock when CRE implodes and all those loans fully adjust to 8%, Dovish pivot or not.
You are on fire! Agree, agree. And, I just found out that HUD has been quietly selling vacant homes where the reverse mortgage is in default and the heirs aren't paying. This year and the years ahead are going to very interesting. Thank you as always and Happy New Year!
Is that drone footage from Elizabeth? Thanks for the insight Melody and Happy New Year!
Let me ask Travis, and I will let you know. So much of it looked so similar. Happy New Year!
Hi Melody,
What would your advice be for Denver?
Buy or rent? We are currently renting a 4bed townhome, lease ends next spring. Spoke to our financial advisor he says we are ready but we feel nervous because we are not “mainstream” narrative people and listen to you, danielle, peter schiff etc. we are eager and value your opinion! Basically we want wise counsel. I was wondering if you can give me your .02. I recall your nephew lives here in Denver and you did ima few yrs ago so you get it. We are also debt free and make 260-270k before taxes. We have two kids could use the space but just feel anxious to do anything based on what im hearing with you, sachs etc.
Warmly,
Emily
Hi Emily - send me a note at melody.wright@huringa.co (no "m" after the co) and I can get some more info on where you are looking, etc.
Hello Melody, I have been watching your videos. They are great. I pledged your site to read the article you wrote about Denver metro real estate. Can you send me that? I cant find it.
Sup Melody. Thanks for the updates. I'm in the DFW area, and Id be interested in any info you could point me to about the state of the market here, especially alternate rental/for sale listings that aren't Zillow etc. (I know you've mentioned in your videos local listing services). I was going to ask in a twitter pm but I cant message you there.
I also recently drove by a new build site near me and saw much of the things you mentioned, such as employee cars parked in driveways that were obviously not sold, empty fields behind walls, etc.
Hi - so the best way to find listings that are not on the MLS are actually by driving around or getting to know some realtors in your area. Dallas has a ton of inventory, so there is going to be trouble. Is there a specific area which interests you?
Granola sort 🤣
Hope you feel better soon!
Thank you so much :)
Any thoughts on your paid subscription option?
Hi there - I think I'm just going to do the minimum $8 per month. Will probably turn it on this week with the monthly summary.
Melody, what do you mean by, "In the near future, I hope to have a semi-formal scoring system, but until then my outlook for Denver is not good." When you say, not good, does that mean a crash coming to Denver because its inflated prices? Thanks for a great recap.
Hi Emily - I'm hoping to formalize a scoring system that can give people indications about what I think will happen there and when. Every market is different, but yes, Denver is in for a serious correction. The disconnect between median income and housing prices is untenable. And sales are down even now. Prices will come down. Stay tuned as I try to put together a "warning" system for everyone. And, thank you so much for the support. Happy New Year!
Melody, can you link the deep dive article you wrote about Denver Metro Real Estate Market?
It's at the bottom of this article :)