Aspen Market – Report July 2020 – the Great Urban Exodus

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6 Bedrooms / 7 Full Baths / 2 Half Baths / 7,489 SF
$4,299,000 — EXTREMELY well priced at $575./sq ft
Extremely well priced relative to Aspen proper.  The most recent highest Sale in Aspen was $27,000,000 or $3090/sq ft for a 7-bedroom home on Willoughby Way built in 2015.
Aspen 072020

 

The real estate market is booming! Demand has reached unprecedented levels as people escape the big cities, take advantage of record low interest rates and opt to work remotely. This was the biggest July our market has ever seen by far with 42 closings in Aspen and Snowmass, a 100% increase compared to last July, and dollar volume increased 215%. July sales for Aspen and Snowmass combined are illustrated below.

The local realtor’s email contains tons more information and data on her real estate market.  Her email was forwarded to me from my project who lives and works in the Aspen area.  If I could get $3090/sq ft for my house I’d get $11,124,000!  (minus realtor commissions).

Time to reread Jane Jacobs’ Life and Death of American Cities.

 

Scary Charts 08.08.20 – Surge In Number of Americans Moving In With Older Family Members

Screenshot_2020-08-08 Surge In Number of Americans Moving In With Older Family Members Amid Pandemic Fed Study

“The COVID-19 pandemic has profoundly affected the living arrangements of millions of Americans,” said Daniel Garcia and Andrew Paciorek, authors of the Aug. 7 study, which looks at the impact of the pandemic on living arrangements and household formation in the United States.

  Surge In Number of Americans Moving In With Older Family Members Amid Pandemic: Fed Study

 

Scary Charts 05.06.20 — Auto Loans

Subprime Auto Loans Blow Up, Get Very Messy

US-auto-loan-deliquencies-dollars-2020-q1

Delinquencies of auto loans to borrowers with prime credit ratings were near historic lows (0.27% in March), according to Fitch data. In the pre-Virus Good Times, it was the subprime loans – with credit scores below 620 – that were blowing up…

In mid-March, the world changed for subprime lenders. Delinquencies were already exploding in the Good Times, and now they’re in utter turmoil.

In addition, it is likely that prime loans are becoming delinquent as well, as many of these people too have lost their jobs – this includes dentists and other professionals with high incomes and big debts and lots of expenses and no savings, who’d suddenly had to close their operations, and their cash flow disappeared. If they fall behind on their debts, they’ll be subprime in a hurry.

 

The coronavirus pandemic in five powerful charts — CVD

Nature.com From papers published to carbon emissions to confirmed cases, these data reveal an unprecedented viral outbreak and its impacts around the world. A worker disinfects a mosque in Istanbul as part of city-wide efforts to contain the spread of COVID-19.Credit: Chris McGrath/Getty How is the coronavirus spreading around the world?

via The coronavirus pandemic in five powerful charts — CVD

This is an interesting view on the pandemic.

Spike in Death Rates in Young Adults Minnesota

Screenshot_2019-12-05 What’s behind the spike in death rates among young adults in Minnesota MinnPost

That hasn’t escaped the notice of Dan Dahl, of Dahl Funeral Home in East Grand Forks and the former president of the Minnesota Funeral Directors Association.

“The older I get, the younger everyone else gets. I’m 59, and it used to be when I was 35, 35-year-olds didn’t die, it seemed like. It kind of sticks out now the older you get,” he said. “We’re not supposed to be burying our kids, our kids are supposed to be burying us.”

Read the source article at this link.