Bozeman Housing Crisis

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grizzh8r
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Bozeman Housing Crisis

Post by grizzh8r » Mon Feb 15, 2021 1:30 pm

Wow, I knew it was bad, but didn't realize how bad it was. This is getting out of hand! Hopefully all the farmers and ranchers can resist the urge to cash out...

https://www.bloomberg.com/news/articles ... an-montana

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Thought all of you would find this article interesting...


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Re: Bozeman Housing Crisis

Post by AFCAT » Mon Feb 15, 2021 2:28 pm

I don't have a subscription to Bloomberg, but I can figure out the rest of the story. America runs on Capitalism and that's what is happening with the housing situation in Bozeman right now. Demand for housing is high and interest rates are low, so prices are sky rocketing. That's the economic system we have in America and I'm kind of surprised any conservative would be upset with that.


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Re: Bozeman Housing Crisis

Post by seataccat » Mon Feb 15, 2021 2:40 pm

Just a matter of time before they start selling off public land to real estate developers.


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Re: Bozeman Housing Crisis

Post by wbtfg » Mon Feb 15, 2021 2:52 pm

AFCAT wrote:
Mon Feb 15, 2021 2:28 pm
I don't have a subscription to Bloomberg, but I can figure out the rest of the story. America runs on Capitalism and that's what is happening with the housing situation in Bozeman right now. Demand for housing is high and interest rates are low, so prices are sky rocketing. That's the economic system we have in America and I'm kind of surprised any conservative would be upset with that.
Because we don’t like millionaires from out of state moving here driving up home prices and telling us what to do. Unless they are politicians, then hell yeah, let’s vote for em



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Re: Bozeman Housing Crisis

Post by Joe Bobcat » Tue Feb 16, 2021 10:11 am

Many of you maybe have already seen this article in todays Chronicle.
https://www.bozemandailychronicle.com/n ... 1d109.html

There are no easy answers when growth gets this frantic. The best situation is to have a well thought out growth plan in advance but I'm not sure any plan could anticipate the issues Bozeman is/will be facing.


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Re: Bozeman Housing Crisis

Post by The Butcher » Tue Feb 16, 2021 10:23 am

Joe Bobcat wrote:
Tue Feb 16, 2021 10:11 am
Many of you maybe have already seen this article in todays Chronicle.
https://www.bozemandailychronicle.com/n ... 1d109.html

There are no easy answers when growth gets this frantic. The best situation is to have a well thought out growth plan in advance but I'm not sure any plan could anticipate the issues Bozeman is/will be facing.
A family member that is a single mother and a nurse relied on this type of affordable housing requirement in Minneapolis. The area was struggling to keep essential workers and used this policy to keep people from moving out of the community. It makes sense for a local economy that has substantial growth, but if you are not living with that issue it is easy to ignore. I think this will be hard on growing communities, while stagnant/shrinking communities won’t feel the pinch.



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Re: Bozeman Housing Crisis

Post by WalkOn79 » Tue Feb 16, 2021 9:36 pm

Interesting article. The answer I think it to change zoning and allow downtown to continue to build up not out.


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Re: Bozeman Housing Crisis

Post by CelticCat » Wed Feb 17, 2021 11:55 am

I haven't lived in Bozeman for a while, but isn't there plenty of space to build within the sort of triangle of Belgrade, Four Corners, and Bozeman? Or is that all farm land?


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Re: Bozeman Housing Crisis

Post by ilovethecats » Wed Feb 17, 2021 12:03 pm

CelticCat wrote:
Wed Feb 17, 2021 11:55 am
I haven't lived in Bozeman for a while, but isn't there plenty of space to build within the sort of triangle of Belgrade, Four Corners, and Bozeman? Or is that all farm land?
There used to be. :lol:



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Re: Bozeman Housing Crisis

Post by Cataholic » Wed Feb 17, 2021 12:22 pm

CelticCat wrote:
Wed Feb 17, 2021 11:55 am
I haven't lived in Bozeman for a while, but isn't there plenty of space to build within the sort of triangle of Belgrade, Four Corners, and Bozeman? Or is that all farm land?
It is almost one big city now in that triangle. Some of the nicest newest developments fall into that area.



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Re: Bozeman Housing Crisis

Post by RickRund » Wed Feb 17, 2021 12:35 pm

The way prices are climbing here is amazing. We would like to sell and get a small piece of property here. The ones close here are too expensive, I am cheap, and not all are what we call pretty. The one piece we have found is 5 acres for $82500. Nice property but 40 minutes away. Would like to be a little closer, BUT....

At Church a couple of weeks ago our Pastor was noting that the area is pegged to hit about 200,000 people in the future and right now for every home on the market there are 13 buyers. Can you spell "bidding wars". If we can maybe wait until later this year we figure to maybe bank about $250,000 from the sale... It has gone that crazy...



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Re: Bozeman Housing Crisis

Post by The Butcher » Thu Feb 18, 2021 9:10 am

RickRund wrote:
Wed Feb 17, 2021 12:35 pm
The way prices are climbing here is amazing. We would like to sell and get a small piece of property here. The ones close here are too expensive, I am cheap, and not all are what we call pretty. The one piece we have found is 5 acres for $82500. Nice property but 40 minutes away. Would like to be a little closer, BUT....

At Church a couple of weeks ago our Pastor was noting that the area is pegged to hit about 200,000 people in the future and right now for every home on the market there are 13 buyers. Can you spell "bidding wars". If we can maybe wait until later this year we figure to maybe bank about $250,000 from the sale... It has gone that crazy...

I don't get how MSU students can afford rent. I presume more people are staying in the dorms now?
You have to think the labor market is getting pretty tough to find hourly staff. Who is working at Walmart and Taco Johns?
There was a comparable job in Bozeman posted recently (I had to take a look). The pay was nearly half what I make in SD with the cost of living twice as high. It is mindboggling that so many people can make it work financially in Bozeman.



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Re: Bozeman Housing Crisis

Post by RickRund » Thu Feb 18, 2021 11:49 am

The Butcher wrote:
Thu Feb 18, 2021 9:10 am
RickRund wrote:
Wed Feb 17, 2021 12:35 pm
The way prices are climbing here is amazing. We would like to sell and get a small piece of property here. The ones close here are too expensive, I am cheap, and not all are what we call pretty. The one piece we have found is 5 acres for $82500. Nice property but 40 minutes away. Would like to be a little closer, BUT....

At Church a couple of weeks ago our Pastor was noting that the area is pegged to hit about 200,000 people in the future and right now for every home on the market there are 13 buyers. Can you spell "bidding wars". If we can maybe wait until later this year we figure to maybe bank about $250,000 from the sale... It has gone that crazy...

I don't get how MSU students can afford rent. I presume more people are staying in the dorms now?
You have to think the labor market is getting pretty tough to find hourly staff. Who is working at Walmart and Taco Johns?
There was a comparable job in Bozeman posted recently (I had to take a look). The pay was nearly half what I make in SD with the cost of living twice as high. It is mindboggling that so many people can make it work financially in Bozeman.
Just curious, what are rents in Bozeman/Bozeman area now? A month or so ago there was a house at the end of our cul d sac that they were asking $3700 a month for. Granted it was a 4/3 but WOW... Don't think anyone has moved in yet...



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Re: Bozeman Housing Crisis

Post by ilovethecats » Thu Feb 18, 2021 12:00 pm

RickRund wrote:
Thu Feb 18, 2021 11:49 am
The Butcher wrote:
Thu Feb 18, 2021 9:10 am
RickRund wrote:
Wed Feb 17, 2021 12:35 pm
The way prices are climbing here is amazing. We would like to sell and get a small piece of property here. The ones close here are too expensive, I am cheap, and not all are what we call pretty. The one piece we have found is 5 acres for $82500. Nice property but 40 minutes away. Would like to be a little closer, BUT....

At Church a couple of weeks ago our Pastor was noting that the area is pegged to hit about 200,000 people in the future and right now for every home on the market there are 13 buyers. Can you spell "bidding wars". If we can maybe wait until later this year we figure to maybe bank about $250,000 from the sale... It has gone that crazy...

I don't get how MSU students can afford rent. I presume more people are staying in the dorms now?
You have to think the labor market is getting pretty tough to find hourly staff. Who is working at Walmart and Taco Johns?
There was a comparable job in Bozeman posted recently (I had to take a look). The pay was nearly half what I make in SD with the cost of living twice as high. It is mindboggling that so many people can make it work financially in Bozeman.
Just curious, what are rents in Bozeman/Bozeman area now? A month or so ago there was a house at the end of our cul d sac that they were asking $3700 a month for. Granted it was a 4/3 but WOW... Don't think anyone has moved in yet...
We were trying to help my son get into a place with his roommates this fall and just in the small sample size of places we checked out, it seemed to be about $700-$900 per room. He was looking at 3-bed places and all of them were between $2000-$3000 a month. I've seen some much higher like your example.

Just going by his group of friends, the way any of them are affording it is by sharing rooms. Kids are packing 5-6 people in three bedroom houses to cut costs.

For those in a position to do so, the route many take is to buy a home for their kids when they start school, have them and their roommates cover or pay the majority of the mortgage until they graduate, and then sell it. Everyone I have known that has done this made a decent profit come graduation! But many aren't lucky enough to go this route.

It's crazy here these days!



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Re: Bozeman Housing Crisis

Post by rivercat » Sat Feb 20, 2021 9:38 am

seataccat wrote:
Mon Feb 15, 2021 2:40 pm
Just a matter of time before they start selling off public land to real estate developers.
That's idiotic. I've lived in Bozeman since 1984 and have worked in and around housing development since 1990. The vast majority of land in valley that is not developed is private land. Public land will not be sold to developers in Gallatin Co.

Supply and demand. Want prices to drop, increase supply. But that will continue to change the nature of the valley. Too many people on the rivers anymore for my liking. Anyone interested in buying my house?


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Re: Bozeman Housing Crisis

Post by seataccat » Sat Feb 20, 2021 11:08 am

The only idiot here is you if you think public land doesn't wind up in private hands.


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Re: Bozeman Housing Crisis

Post by rivercat » Sat Feb 20, 2021 11:59 am

seataccat wrote:
Sat Feb 20, 2021 11:08 am
The only idiot here is you if you think public land doesn't wind up in private hands.
I said the statement is idiotic and it is with regard to the Gallatin Valley which this thread was about. In fact, the acreage of public and conservation easement protected land is increasing here. Don't argue.


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Re: Bozeman Housing Crisis

Post by RickRund » Sat Feb 20, 2021 3:32 pm

rivercat wrote:
Sat Feb 20, 2021 11:59 am
seataccat wrote:
Sat Feb 20, 2021 11:08 am
The only idiot here is you if you think public land doesn't wind up in private hands.
I said the statement is idiotic and it is with regard to the Gallatin Valley which this thread was about. In fact, the acreage of public and conservation easement protected land is increasing here. Don't argue.
Sounds like the Nature Conservancy is buying up property?



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Re: Bozeman Housing Crisis

Post by rivercat » Sat Feb 20, 2021 5:19 pm

RickRund wrote:
Sat Feb 20, 2021 3:32 pm
rivercat wrote:
Sat Feb 20, 2021 11:59 am
seataccat wrote:
Sat Feb 20, 2021 11:08 am
The only idiot here is you if you think public land doesn't wind up in private hands.
I said the statement is idiotic and it is with regard to the Gallatin Valley which this thread was about. In fact, the acreage of public and conservation easement protected land is increasing here. Don't argue.
Sounds like the Nature Conservancy is buying up property?
I was overly aggressive and I apologize. I read seataccat on the FB board and enjoy his input.

Development around Bozeman is a complicated issue. It's not the place it used to be and that suits some people. I liked it about half the current size but I've made a good living as a result of the growth.

Anyway, Bobcat Hangout was not the place to vent.

I can't wait for football so we can all get behind a common cause. Peace, out.


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Re: Bozeman Housing Crisis

Post by seataccat » Sun Feb 21, 2021 3:23 pm

rivercat wrote:
Sat Feb 20, 2021 5:19 pm
RickRund wrote:
Sat Feb 20, 2021 3:32 pm
rivercat wrote:
Sat Feb 20, 2021 11:59 am
seataccat wrote:
Sat Feb 20, 2021 11:08 am
The only idiot here is you if you think public land doesn't wind up in private hands.
I said the statement is idiotic and it is with regard to the Gallatin Valley which this thread was about. In fact, the acreage of public and conservation easement protected land is increasing here. Don't argue.
Sounds like the Nature Conservancy is buying up property?
I was overly aggressive and I apologize. I read seataccat on the FB board and enjoy his input.

Development around Bozeman is a complicated issue. It's not the place it used to be and that suits some people. I liked it about half the current size but I've made a good living as a result of the growth.

Anyway, Bobcat Hangout was not the place to vent.

I can't wait for football so we can all get behind a common cause. Peace, out.
No need to to apologisze to me. I have an abbrasive disposition and can take a bit of constructive criticism. That's part of the fun. Peace man.


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