Not having a second / vacation home makes me feel poor & depressed. Anyone else?

[Anonymous]

Anonymous wrote:This thread is hilarious because we spent the entire pandemic in our only home, which is a 1000 sq ft condo (three people, one dog). We know people with vacation homes. They honestly don’t seem happier or more personally fulfilled. Some don’t even seem to like their second home.

You really expect folks to talk about how amazing their vacation home is around you, who lacks a vacation and whose primary residence is a tiny condo? Get a clue. Not to mention discussing the vacation home around those without makes people fish for invites.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure why pp decided to dig up a three year old thread, but the difference in attitude between May 2020 (from the throes of the covid lock down) and now is pretty dramatic. From the peak of the pandemic, the second home market still has a long way to fall, IMO.

It's fascinating to read all the dunces chastising people for owning second homes. How stupid to lock in historic low 2% on a $700k vacation home now worth $1.7mn a few years later. Pissing away your money making the mortgage payments for airbnb and vrbo hosts is far smarter.

Are you still living in 2021? The short term rental market is saturated with the homes of people who bought second homes during Covid and now have to be back in the office. I’ve been watching several resort area markets and houses are sitting, even with price drops. It’s going to be interesting when all the people who bought investment properties on the basis of the rental history during Covid have to start making the payments on the mortgage out of pocket & decide they need to sell.

You’re watching all right. On the sidelines. Armchair expert.

[Anonymous]

New contender for most dcum post ever!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is hilarious because we spent the entire pandemic in our only home, which is a 1000 sq ft condo (three people, one dog). We know people with vacation homes. They honestly don’t seem happier or more personally fulfilled. Some don’t even seem to like their second home.

You really expect folks to talk about how amazing their vacation home is around you, who lacks a vacation and whose primary residence is a tiny condo? Get a clue. Not to mention discussing the vacation home around those without makes people fish for invites.

Is “fishing for invites” really a thing that happens beyond high school?

[Anonymous]

I have no desire to be tied to a second home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is hilarious because we spent the entire pandemic in our only home, which is a 1000 sq ft condo (three people, one dog). We know people with vacation homes. They honestly don’t seem happier or more personally fulfilled. Some don’t even seem to like their second home.

You really expect folks to talk about how amazing their vacation home is around you, who lacks a vacation and whose primary residence is a tiny condo? Get a clue. Not to mention discussing the vacation home around those without makes people fish for invites.

Is “fishing for invites” really a thing that happens beyond high school?

No kidding. I hate the invites because then I feel obligated to go eventually, and it is almost never as nice as a getaway to our own family spots.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure why pp decided to dig up a three year old thread, but the difference in attitude between May 2020 (from the throes of the covid lock down) and now is pretty dramatic. From the peak of the pandemic, the second home market still has a long way to fall, IMO.

It's fascinating to read all the dunces chastising people for owning second homes. How stupid to lock in historic low 2% on a $700k vacation home now worth $1.7mn a few years later. Pissing away your money making the mortgage payments for airbnb and vrbo hosts is far smarter.

Are you still living in 2021? The short term rental market is saturated with the homes of people who bought second homes during Covid and now have to be back in the office. I’ve been watching several resort area markets and houses are sitting, even with price drops. It’s going to be interesting when all the people who bought investment properties on the basis of the rental history during Covid have to start making the payments on the mortgage out of pocket & decide they need to sell.

You’re watching all right. On the sidelines. Armchair expert.

I’ll just leave these here:

https://www.wsj.com/articles/the-housing-slowdown-is-wreaking-havoc-on-the-short-term-rental-market-11670518837?reflink=integratedwebview_share

Non-paywall version:
https://www.mansionglobal.com/articles/the-housing-slowdown-is-wreaking-havoc-on-the-short-term-rental-market-01670527531

https://www.fairviewlending.com/what-happens-to-nightly-rentals-as-real-estate-market-turns/

https://www.biggerpockets.com/blog/airbnbust-why-it-may-be-time-to-rethink-short-term-rentals

https://time.com/6223185/airbnbs-empty-short-term-rentals/

And many more, should you care to look at what “experts” are saying.

[Anonymous]

Anonymous wrote:With seemingly everyone who has one gone from their main residence right now, anyone else feel this way? Be honest.

Because honestly, this week I can't stop feeling "poor" (not literally, relatively) because we don't have a place to escape to. Relying on random invites to friends' and family vacation homes at this point in our life just feels so low and desperate. I don't care how much or how little financial sense it makes, we need a second home. I'm so over being trapped at home all year, fishing for invitations, or even renting for a week at a time. Perhaps this is the precise feeling that motivates so many to buy a second home?

Fishing for invites got real old once we hit our mid 30s. Makes you feel second class, like a leech. Especially once you have a kid or two. And renting is just flushing money down the drain. When you rent you're just lowly transients. The vibe is totally different when you own, when you know the neighbors, when your kids can grow up with neighbor kids. Being able to go away on a whim, there's nothing like it.

[Anonymous]

Anonymous wrote:I have no desire to be tied to a second home.

Plus 1 million.

[Anonymous]

This thread makes me laugh. Like, I feel like I'm sneaking into a country club to be on DCUM.
Meanwhile, REI has its Anniversary Sale on, and I'm thinking of upgrading my tent.
Tent=my vacation home.

[Anonymous]

Anonymous wrote:This thread makes me laugh. Like, I feel like I'm sneaking into a country club to be on DCUM.
Meanwhile, REI has its Anniversary Sale on, and I'm thinking of upgrading my tent.
Tent=my vacation home.

Fantastic suggestion!

[Anonymous]

We sold our DC house and took a huge profit and still live in our weekend place. Come into dc about 50 miles away when we feel like it. Two houses makes no sense in the post-COVID world. We can get a hotel room in DC or another city far easier than we can get the equivalent of our country home on Airbnb.

[Anonymous]

Anonymous wrote:Get off DCUM! I don't even own a "first home." Do you realize the median family net worth in the US is under $100k?

x1000

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Generations of multiple homes in my family and private air travel has finally really made it easy. 54 years old and remember the tough slogs getting to and from back when. Now it’s a 45 minute direct flight from DC to the beach house and about 3 hours to the mountain house. Considering adding a third along the southern Atlantic coast now.

Oh no, more than this, more than you can imagine.

Just got back from the mountain house. So beautiful this time of year and no hungry grizzlies to worry about! Being able to see beautiful sunrises and sunsets from our ridge top home strengthens my soul. Unfortunately, the Yellowstone poseur crowd is stepping up their silliness (we actually have a Rip like character who lives on our property and looks after things). I have learned some things about avoidance from the Hamptons crowd types who have tried to infiltrate our island beach home. I think the bad year for Wall Streeters will dial them back.

Still, no one would know we have more than 10k acres in the mountains and 20 plus beachfront acres just from looking at us; everyone else should take it down a notch as well.

This is so true. The one percenters are not prancing around with so many "neon signs" that most of DCUM is using.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Generations of multiple homes in my family and private air travel has finally really made it easy. 54 years old and remember the tough slogs getting to and from back when. Now it’s a 45 minute direct flight from DC to the beach house and about 3 hours to the mountain house. Considering adding a third along the southern Atlantic coast now.

Oh no, more than this, more than you can imagine.

Just got back from the mountain house. So beautiful this time of year and no hungry grizzlies to worry about! Being able to see beautiful sunrises and sunsets from our ridge top home strengthens my soul. Unfortunately, the Yellowstone poseur crowd is stepping up their silliness (we actually have a Rip like character who lives on our property and looks after things). I have learned some things about avoidance from the Hamptons crowd types who have tried to infiltrate our island beach home. I think the bad year for Wall Streeters will dial them back.

[b]Still, no one would know we have more than 10k acres in the mountains and 20 plus beachfront acres just from looking at us; everyone else should take it down a notch as well. [/b]

This is so true. The one percenters are not prancing around with so many "neon signs" that most of DCUM is using.

Please get over yourself with that condescending keyboard humble bragging. I am so over mega rich people who like to brag about how one would never know how much they have because they are so low profile/drive regular cars/never brag etc. You are just as obnoxious as the showy ones, just a different flavor of obnoxious. Telling people to "take it down a notch" because you are are the truly wealthy and they are poseurs for not having as much as you is disgusting. You would probably argue that you didn't say that, but, that is the quiet part of your comment.