Are there downsides to living in downtown Bozeman?

[alaskaflyer]

Originally Posted by Reziac

*blink* Almost $20k/month, for that? Who the hell can afford this?? (Well, not locals.... I expect most of these HOLY-WTF sales are to wealthy Chinese trying to get their money out of China before the oncoming economic collapse.)

It's on top of the old rail yard. The tracks are right next door. I used to live two blocks away on North Plum, in the old "Fruit section" that was regarded as close to a slum as Bozeman got. My old neighborhood must be coming up in the world!!

Lol. It's not the Chinese buying those condos. Lol.

And yes, that whole area east of Rouse pretty much, now designated as the Historic Brewery District. West of Rouse is next, it's already happening up to about Beale or so...with the architecture north of there showing the best of modest 1950s/1960s stuff I'm not sure who would be gentrifying further north and west, but gentrify it they must.

[NDak15]

Originally Posted by Reziac

*blink* Almost $20k/month, for that? Who the hell can afford this?? (Well, not locals.... I expect most of these HOLY-WTF sales are to wealthy Chinese trying to get their money out of China before the oncoming economic collapse.)

It's on top of the old rail yard. The tracks are right next door. I used to live two blocks away on North Plum, in the old "Fruit section" that was regarded as close to a slum as Bozeman got. My old neighborhood must be coming up in the world!!

The Chinese are buying up condos in Bozeman? Thanks for the free entertainment! I got a good laugh out of that one.

[Reziac]

Originally Posted by NDak15

The Chinese are buying up condos in Bozeman? Thanks for the free entertainment! I got a good laugh out of that one.

Not to live in, just to get their money out of China. But I expect it's happening all over, if not as obviously as in Vancouver. Look up the mess that's Evergrande, and be aware it has financial ties with Blackrock. And it only takes one to drive the price up for the other suckers.

[NDak15]

Originally Posted by Reziac

Not to live in, just to get their money out of China. But I expect it's happening all over, if not as obviously as in Vancouver. Look up the mess that's Evergrande, and be aware it has financial ties with Blackrock. And it only takes one to drive the price up for the other suckers.

I think Bozeman is still a pretty white bread place. I'd be quite surprised if there were many Chinese people buying up condos.

[citizensadvocate]

I would not be surprised as the Chinese and other Asians used to visit Yellowstone in masses and busloads at least prior to COVID19, and Bozeman seems to be the closest medium sized city to Yellowstone. I am surprised to see how expensive Bozeman is nowadays based on Zillow. I was looking at this city. Though it appears no longer an easy escape for coastal groups. Its now almost as expensive as some outer California metro areas ie the inland empire east of Los Angeles and cities in metro Northwest. I do understand those people are opportunists who would invest in anything that is likely to go up as I heard they invested in decaying Michigan neighborhoods as well. They don't have to live there or like it there, they hardly do anyways they just hire a property manager to take care of it.

[NW Crow]

Yes Chinese buyers are looking at Montana real estate.

https://www.juwai.asia/60994749

The link could be used to see asking prices. The very first listing is in Bozeman.

Not sure how many condos, homes, ranches and raw land has been bought over time or recently.

But related articles say Chinese buying of US real estate is way down from the peak in 2017-18 and that currently Canadians and Mexicans are buying more than the Chinese. The top 10 states for the Chinese were all coastal states.

[diceyhot]

Not necessarily foreign investors this time around. I think too many people are hung up on the big city exodus theory to see that Wall Street is actually a very big reason for the price frenzy. Today's landlord is a publicly traded company.

Just look at the surge in prices lately and yet homeownership has relatively plunged. Do the math.

[citizensadvocate]

Apparently I heard many people regardless of ethnicity purchase Bozeman or other parts of Montana, Wyoming, or Idaho within 50 miles of Yellowstone National park as second homes and plan to rent it out on Airbnb or Vrbo or other vacation rental agencies when they are not using it. Is this true? Apparently they keep their first homes in the event their employers asks them to return to the office but may stay in second homes as long as they can work remote.

I would like to ask whether Asian tourists are returning to the area. Apparently while they visited Yellowstone as well as other destinations in droves or bus loads in the past they seem to be much slower to return to normalcy compared to other ethnicities even to dine out at restaurants that were once always packed.