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Where are vacation homes located in the US?

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Re: Where are vacation homes located in the US?

#41

Post by yieldcrv »

snowwrestler wrote: post #33

The article cites the availability of air conditioning as a major factor in vacation home trends. Prior to AC, escaping heat was the main purpose to have a vacation home. That’s why so many vacation homes are near old major cities like Philadelphia, New York, Boston, Chicago, etc. In the summer, families with money escaped to the mountains or the beach, where it was much more pleasant during the hot months. I would g…

I’ve been to many old mansion estates, and in hotter climates the maid staff would have the upstairs rooms with potentially the best rooms. (Although the rooms were designed to be afterthoughts for maids.) I found that interesting, whats desirable has completely flipped based on our ability to make it comfortable.

Re: Where are vacation homes located in the US?

#42

Post by yieldcrv »

MrDarcy wrote: post #36
snowwrestler wrote: post #33

The article cites the availability of air conditioning as a major factor in vacation home trends. Prior to AC, escaping heat was the main purpose to have a vacation home. That’s why so many vacation homes are near old major cities like Philadelphia, New York, Boston, Chicago, etc. In the summer, families with money escaped to the mountains or the beach, where it was much more pleasant during the hot months. I would g…

This is a win win win for all involved, owner, renter, and Airbnb. I converted stocks into a vacation home on puget sound and rent it out when we aren’t using it. Demand is high enough that we don’t need to rent it out months in advance so we still feel like it’s mostly ours and we’re not just another guest fitting into Airbnb’s schedule. To your point I liked the liquidity of equities but it has been nice to do some…

Liquidity is a major factor for me thats kept me out of real estate in the past, have the money burning AI buyers helped make home trading more liquid?

Re: Where are vacation homes located in the US?

#43

Post by scythe »

khuey wrote: post #20

This is interesting, but one axis it's missing is that in some places the "vacation homes" aren't actually habitable year round. Quite a few cabins in Maine are neither insulated nor heated for the winters, are only accessible via roads that aren't maintained during the winter, etc. I'm not familiar with the area but I would guess that Minnesota's Lake Country and other similar places have the same thing going on.

This also occurs in the Rockies:

https://en.wikipedia.org/wiki/Crystal,_Gunnison_County,_Colo...

Re: Where are vacation homes located in the US?

#45

Post by anon7000 »

yieldcrv wrote: post #41
snowwrestler wrote: post #33

The article cites the availability of air conditioning as a major factor in vacation home trends. Prior to AC, escaping heat was the main purpose to have a vacation home. That’s why so many vacation homes are near old major cities like Philadelphia, New York, Boston, Chicago, etc. In the summer, families with money escaped to the mountains or the beach, where it was much more pleasant during the hot months. I would g…

I’ve been to many old mansion estates, and in hotter climates the maid staff would have the upstairs rooms with potentially the best rooms. (Although the rooms were designed to be afterthoughts for maids.) I found that interesting, whats desirable has completely flipped based on our ability to make it comfortable.

I mean, attics and top floors with no AC often get swelteringly lot because heat rises

Re: Where are vacation homes located in the US?

#46

Post by arccy »

anon7000 wrote: post #45
yieldcrv wrote: post #41

Earlier quoted context omitted.

I’ve been to many old mansion estates, and in hotter climates the maid staff would have the upstairs rooms with potentially the best rooms. (Although the rooms were designed to be afterthoughts for maids.) I found that interesting, whats desirable has completely flipped based on our ability to make it comfortable.

I mean, attics and top floors with no AC often get swelteringly lot because heat rises

plus heat transfer from the sun through the roof

Re: Where are vacation homes located in the US?

#47

Post by xhkkffbf »

czhu12 wrote: post #32
vintermann wrote: post #28

Earlier quoted context omitted.

Shower thought, maybe bitcoin is actually good for the environment, if it replaces even more wasteful ways of trying to park wealth.

It’s not really “parking” wealth since property taxes are still collected every year on these properties, which fund other city programs, unlike other asset classes like stocks and crypto. Presumably if the residents don’t even live there, then they are massive net contributors to the tax base

A lot of vacation towns have pretty good school systems thanks to the fact that many of the people who pay the real estate tax don't send their kids to the schools.

Re: Where are vacation homes located in the US?

#48

Post by xhkkffbf »

PopAlongKid wrote: post #23
42772827 wrote: post #4

The largest generation in US history is retiring and buying property in the state with no income tax.

This explains very little. State income tax is based on your state of residence, not where you have a vacation home, in which by definition you do not live most of the year. Further, it makes no sense to refer to "the state with no income tax", as there are many of those. Granted, there are some working-age people who buy a vacation home with the thought of moving into it permanently a decade or two into the future,…

When they retire, they sell their house in the place with the job and move full time to the no tax state.

Re: Where are vacation homes located in the US?

#49

Post by garciasn »

scythe wrote: post #43
khuey wrote: post #20

This is interesting, but one axis it's missing is that in some places the "vacation homes" aren't actually habitable year round. Quite a few cabins in Maine are neither insulated nor heated for the winters, are only accessible via roads that aren't maintained during the winter, etc. I'm not familiar with the area but I would guess that Minnesota's Lake Country and other similar places have the same thing going on.

This also occurs in the Rockies: https://en.wikipedia.org/wiki/Crystal,_Gunnison_County,_Colo...

Happens here in MN too. I own a vacation home that used to be a fishing resort in the 40s-70s and now shares water / septic with 5 other cabins; we turn the water off mid-Oct to end of April because the lines are only buried about 2 feet deep.

Having a three-season place is pretty common here.

Re: Where are vacation homes located in the US?

#50

Post by dgrin91 »

PopAlongKid wrote: post #23
42772827 wrote: post #4

The largest generation in US history is retiring and buying property in the state with no income tax.

This explains very little. State income tax is based on your state of residence, not where you have a vacation home, in which by definition you do not live most of the year. Further, it makes no sense to refer to "the state with no income tax", as there are many of those. Granted, there are some working-age people who buy a vacation home with the thought of moving into it permanently a decade or two into the future,…

Or you spend 6 months + 1 day in your 0 tax state (possibly with some creative accounting) and the rest in high income tax state.
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