What drives the risk of a house price correction?

According to JP Morgan, the housing bust and subsequent recession were deepest in the areas where mortgage borrowing expanded the most in the pre-crisis years, driving unsustainable increases in prices. During the 2006-2011 housing bust, price declines were closely intertwined with growth in mortgage debt during the boom. The growth in mortgage debt from 2003 to 2006 explains about half of the variation across counties in the decline in real prices from 2006 to 2011.

Another notable feature of the mid-2000s housing market is the presence of high prices even in places where the supply of housing could – and did – expand rapidly. Indeed, in the mid-2000s, prices rose well above cost in a number of markets…

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Montana became quite the destination during 2020 and the CoVid pandemic...the gateway to Yellowstone National Park and skiing, hiking, fishing, what's not to love? That certainly beats living in 4 walls in a highrise in a big city or in an area of millions of people in a few blocks' radius.

Well, you're in luck! The Bozeman Yellowstone International Airport now offers 25 Direct city flights from around the country with the recent addition of Austin, Oakland and San Diego.

The additional direct flights to Bozeman, many seasonal are the following:

  1. Atlanta
  2. Austin
  3. Boston
  4. Charlotte
  5. Chicago
  6. Dallas
  7. Denver
  8. Fort Lauderdale
  9. Houston
  10. LA
  11. Las Vegas
  12. Minneapolis
  13. Nashville
  14. Newark
  15. New York LaGuardia
  16. New York JFK

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We didn't know what to expect from the rest of 2020 after we learned of the Coronavirus resulting in a pandemic with quarantine regulations. Everything turned upside down and inside out. What did transpire for the positive is the importance of quality of life. Folks all over the world experienced life at home for extended periods of time and either gained a new appreciation for their environment or they decided they needed a change. They began researching places to move whether it was to the suburbs in their current area or across the country in a totally new place very different from their current home town. They looked into recreation, family life, schools, tax implications, and the ability to travel for work from that location or the reality of working…

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“The big myth about Yellowstone is that it’s a pristine wilderness untouched by humanity,”

We all love our nation's first national park. Many have come to the park from near and far to enjoy wildlife, beautiful vistas, awe-inspiring geysers, crystal clear rivers, and colorful hot springs. This article delves into an anthropologist's years of excavation and the artifacts that he has discovered.

{Click here to read the full article in the Smithsonian.}

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This year we are recognizing projects, properties, or spaces around Bozeman that build community and serve as bright spots in challenging times. You can even nominate a neighbor or local business that you think deserves recognition for their service to the community during COVID.  

Nominate someone or a place here, Bozeman's Website

 

 

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Bozeman and the surrounding areas of Big Sky, Yellowstone and Paradise Valley have seen an influx of visitors who wanted to take advantage of our wide-open spaces, fishing, hiking, biking, camping and site-seeing in Yellowstone. Bozeman used to be a sleepy little cow town but has really hit the map in the last few months. We were experiencing a healthy growth for many years, with the market only seeing a downturn in 2008-2010 that everyone experienced.  The trend of the great western migration will continue as the uncertainty of cities continues, wildfires ravage the west coast and hurricanes beat up the southeast. 

With all of the demand to head west, we have been gifted three new direct flights. Charlotte, NC will start offering a direct flight in…

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Not at all,  the two main drivers of housing remain rock solid...the below article from Hotwire will explain what the 2 main drivers are and what to watch.

Today, existing home sales blew out estimates, coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board for housing.

Let’s just say this is the final nail in the coffin for the housing bear troll camps that were so sure that this time, housing would finally crash. COVID didn’t get the housing market, but it did pull a fast one on those pesky bears.




Look, I get it. For the casual observers of the market, it may seem intuitive…

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President Trump called on Congress to send him a bill that would fully and permanently fund the Land and Water Conservation Fund, which was established by Congress in 1964, and restore our national parks. On August 4, 2020, President Trump signed the Great American Outdoors Act into law, alongside bipartisan support from Senators Steve Daines and Jon Tester. It is being called

"The biggest land conservation legislation in a generation"

This funding is much needed to fix deferred maintenance at national parks, wildlife refuges, forests, and other federal lands, with $6.5 billion earmarked specifically to the 419 national park units. The number of visitors to the national parks system has increased by 50 percent since 1980, but the parks’ budget has…

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One Family's Choice

Mel Visser and his wife, Marge, recently finalized a conservation easement on their Manhattan property with the help of the Gallatin Valley Land Trust. The easement will protect the 779-acre land from fragmentation, development and non-agricultural commercial activity.

Montanans love their farms and ranches, so conservation is becoming more well-known and utilized for many reasons...protection of wide-open spaces is very important for one as development expands across the valley. With the recent Shelter in Place rule across the globe, more folks have flocked to the Rocky Mountains to seek more space and nature. It can take its toll on smaller communities and drive prices higher of land, development and housing.

To read the…

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