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VT or bust

Iwannaski

Ski Diva Extraordinaire
I agree the conditions are different than the bubble in the mid 2000s, but I think one common feature of a bubble is that most conventional wisdom doesn’t see the bubble until it pops.

I have nothing to gain from calling this a bubble... the prices in our neighborhood are irrational at this point. People are making 60-150k off of homes that they bought in the last 1-4 years and spent no money updating.

That’s about a 20-50% return. Not rational. Lots are 0.1 acre, so no real value in the land. Fairly restrictive zoning and design standards, generally.

The only thing I suppose is that new construction is probably skyrocketing in price because of the supply chain, so an established neighborhood is a better move? Also, we’re a pretty cool neighborhood. ;)
 

ilovepugs

Angel Diva
I’m all for population growth in Vermont, but more workforce housing needs to be built. Having worked on the financing for a significant number of market-rate and mixed-income housing developments in my past life, it’s *not* easy to get done here. There are some cities within Chittenden County (Burlington area) that have taken a few helpful regulatory steps that have made things easier, but our statewide zoning needs significant reform to allow for more certainty in the process or we’ll never attract the investment needed to build enough housing to even meet current demand.
 
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