Steamboat Shit Show(rant)

[funkendrenchman]

Further, the idea that the public is going to build housing and then sell it at sub market rate using whatever qualification rubic they come up with still just comes across as a handout to people making a bad financial decision.

How do you expect people in a place like Aspen to buy anything? Or should everything be owned by those with $10 million + in assets and then everyone else can go live 60 miles away and commute in?

[oldnew_guy]

How do you expect people in a place like Aspen to buy anything? Or should everything be owned by those with $10 million + in assets and then everyone else can go live 60 miles away and commute in?

I guess if the people who live and pay taxes in rich person playgrounds like Aspen want to do this good for them, but it certainly leaves a sour taste in many peoples mouths when its state and federal tax dollars funding it.

[Hott Butt Mud]

I know someone who rents a Town of Snowmass subsidized studio unit for like $675/mo or something. He makes $80k/yr. I'm not sure the town knows he makes that much now (used to make far less), but with that low of rent he's living like a king compared to many of his bum peers in other ski towns. Muthafucka can walk to the chairlift!

[funkendrenchman]

I know someone who rents a Town of Snowmass subsidized studio unit for like $675/mo or something. He makes $80k/yr. I'm not sure the town knows he makes that much now (used to make far less), but with that low of rent he's living like a king compared to many of his bum peers in other ski towns. Muthafucka can walk to the chairlift!

Living like a king - renting a studio apartment.

The tough part with affordable housing is that people increase their salaries after qualifying for low end units.

On the flip side, the system punishes those that earn a good living, by charging them more for an equivalent unit. There are identical units that will sell for $150k to a low income worker and $600k to a high income worker.

It’s not a perfect system, but it accomplishes its main goal of keeping employees housed.

[Foggy_Goggles]

Well plenty of people do commute 60 miles and they don't get to rip pow on lunch.

The RFV, unlike almost anywhere, pretty much does have the pot of gold. If they want to curate their community to include subsidized housing, have at it.

But as mentioned many times, it (generally speaking) is an imperfect system subject to the laws of unintended consequence. Housing affordability is a huge problem, many places.

In my opinion, the way we are addressing it locally (what I know) is short sighted at best, nefarious at worst.

I wish there was more focus on living wage jobs, non degree job training, drug/mental health resources and bigger burden on the tourism industry to pay for it.

Thats just my dream. I'm not playa hatin'

Sent from a 6 m/s face melting thermal

[funkendrenchman]

Yes, I believe Aspen may be a bit of an outlier here. I’ve rented and owned several affordable units and I’m super thankful they exist because otherwise I sure as hell wouldn’t be living here.

[Danno]

Living like a king - renting a studio apartment.

The tough part with affordable housing is that people increase their salaries after qualifying for low end units.

On the flip side, the system punishes those that earn a good living, by charging them more for an equivalent unit. There are identical units that will sell for $150k to a low income worker and $600k to a high income worker.

It’s not a perfect system, but it accomplishes its main goal of keeping employees housed.

The "income going up" thing is why I prefer affordable housing for purchase, with permanent deed restrictions, vs "affordable rent based on income". Both can be gamed, sure, but rentals create an ongoing incentive for people to hide their incomes as they go up so they can sit on their good deal. Deed restricted house do not have that same ongoing incentive, your income can go up and you're not breaking any rules. But when you sell, the property stays affordable to the next buyer.

But again, no system is perfect. I have a good friend that got screwed by Boulder's affordable housing program, while in a deed restricted townhome.

[Shredhead]

The tough part with affordable housing is that people increase their salaries after qualifying for low end units.

It’s not a perfect system, but it accomplishes its main goal of keeping employees housed.

I agree.

Many of my friends live in
Employee housing. Sure it has issues, but on the whole, it works.

I wouldn’t be in favor of privatizing
the units and giving the occupants a huge windfall, which has been suggested in Pitkin County.

My bud that works at Deutsche Bank
and finances many of these complexes throughout country, says they should all be rentals.
But that’s a huge burden on the municipality in the beginning.

[Jvhowube]

[Foggy_Goggles]

https://www.summitdaily.com/news/sho...ng-homeowners/

Search sucks so you get this here. Your family built a house in the 70s, sold it to you and you can't cover the mortgage? How bad do your parents hate you?

Are these really the people the voters are supposed to feel sorry for? The argument for STRs is that we need more tourists and they support the low income jobs for which there is no housing?



Sent from a 6 m/s face melting thermal

[Name Redacted]

https://www.summitdaily.com/news/sho...ng-homeowners/

Search sucks so you get this here. Your family built a house in the 70s, sold it to you and you can't cover the mortgage? How bad do your parents hate you?

Are these really the people the voters are supposed to feel sorry for? The argument for STRs is that we need more tourists and they support the low income jobs for which there is no housing?



Sent from a 6 m/s face melting thermal

But why post it here?

[Foggy_Goggles]

Because its is a bit of a Colo Rad Bro focused thread about a similar topic?

Most of the high quality rants are in some affordable housing thread then it happened in the real estate mega thread.

So if you CnP to where you want it, I'll delete this post...or I'll wipe my ass with the throw pillows TGR style. Happy Friday.

[Buster Highmen]

It's sort of related, right?
STR versus LTR, possibly for local workers.

Maybe the town could give a tax break to those landlords who LTR rent to local workers? A little remodel so that the owner could still use part of the house and LTR rent to locals?

Point is, it's a real problem, not only for vacation towns, but real estate on any coast.

[summit]

New CO legislation making making it very tough to not renew a LTR lease or evict is going to incentivize people to STR.

[Buster Highmen]

New CO legislation making making it very tough to not renew a LTR lease or evict is going to incentivize people to STR.

Known as a “for cause” or “just cause” bill, it would aim to increase housing stability by making it more difficult for landlords to evict tenants. These laws define specific reasons a landlord can pursue eviction, including failure to pay rent, destruction of property or substantial lease violations.

That means a landlord couldn’t evict a tenant if they continually raise issues about poor conditions, for example, or if the landlord simply wants to rent to a different tenant.

https://coloradonewsline.com/2024/01...e%20violations.

Is that "very tough"?

I didn't find any reference to raising rents on a property, since taxes and insurance rise and that should be passed on to the tenant.

[Foggy_Goggles]

I just found it humorous because the chick litterally is a Puffy Coat Mom from the front range speaking about the struggle of owning a second home in the mountains.

One of you should go Encyclopedia Brown and see if you can find her house, what she paid for it and she if you can offer to LTR it.

Sent from my Turbo 850 Flatbrimed Highhorse

[summit]

Known as a “for cause” or “just cause” bill, it would aim to increase housing stability by making it more difficult for landlords to evict tenants. These laws define specific reasons a landlord can pursue eviction, including failure to pay rent, destruction of property or substantial lease violations.

That means a landlord couldn’t evict a tenant if they continually raise issues about poor conditions, for example, or if the landlord simply wants to rent to a different tenant.

https://coloradonewsline.com/2024/01...e%20violations.

Is that "very tough"?

I didn't find any reference to raising rents on a property, since taxes and insurance rise and that should be passed on to the tenant.

Yea actually it is. Should be governed by the lease. Tenants can still bail on the landlord but the landlord can't give an asshole tenant 30 days notice to get out.

Last years version (rejected):
Forbid landlords from "raising rent unreasonably" on renewal of lease.
Forbid landlords from not renewing the lease unless they were going to put their own family in the place.

It was fucking insane.

I'm not sure how much of that made it into this years version but I do know if a landlord wants a tenant out at the end of the lease they have to give tenant 120 days notice that they won't renew the lease under the legislation! That's unreasonably long.

I'm not a landlord. That shit is fucked. I'd never LTR a room in my house.

[Foggy_Goggles]

I'm an LTR landlord. My tenants are awesome. That proposed law sucks. Evict extends to end of lease. You could get a tenant for life with rent increases dictated by the state. It's stupid.

Sent from a 6 m/s face melting thermal

[Elkhound Odin]

I just found it humorous because the chick litterally is a Puffy Coat Mom from the front range speaking about the struggle of owning a second home in the mountains.

It's just horrible what 2nd, 3rd, etc home owners have to go through. The struggles are real !

[altasnob]

One of you should go Encyclopedia Brown and see if you can find her house

https://www.vrbo.com/1177045

[Foggy_Goggles]

Ha...let's bomb her account asking to LTR.

Find it on the assessors website and see how much her parents sold it to her for.

Sent from my Turbo 850 Flatbrimed Highhorse

[altasnob]

The house is 73 TWIN PINES CT. It's owned by JAMES FAMILY TRUST, who live in a $1.2 million home on the outskirts of C Springs. They bought "the cabin" for $200k in 2017. It's assessed value is $1.3 million in 2023

[Foggy_Goggles]

So her story is basically BS? Just CnP your post into the Vrbo "message host" box.

I also found it interesting that she used the term "employees" to refer to presumably cleaners, plow guy spa man etc.

They may be someone's employees but not hers.

Free marketing, shit storm, quinky dink, business as usual?

900k in equity and you are whining? Get fucked lady!

Sent from my Turbo 850 Flatbrimed Highhorse

[Jvhowube]

The house is 73 TWIN PINES CT. It's owned by JAMES FAMILY TRUST, who live in a $1.2 million home on the outskirts of C Springs. They bought "the cabin" for $200k in 2017. It's assessed value is $1.3 million in 2023

"Bought" from her parents for $200k.

Actually hate these people man.

[Foggy_Goggles]

It's bad enough when people pay market then complain that a. Following the regulations hampers their business plan and b. The community needs STRs sans regulations

but to be, voluntarily, the chick in the paper in essence saying county government is forcing her to sell at high 6 figures profit is next level.

I have way more respect for the use by right, don't tell me what I can and can't do with my property middle finger in the air FUIGM crowd than then bullshiters.

I go to the meetings and are on these assholes like stink on shit. They litterally have no game.

Sent from a 6 m/s face melting thermal