What's with the Jail cell, Nate?
I spent a good bit of October flying to the East Coast, buying a Tacoma, and driving it home through the South. While I have amazing pictures of fall foliage and me dressed as a Frenchman amongst the smoking chaos of Bourbon Street, I have been thinking about my last day of the trip in Fort Smith, Arkansas (seen above) for three reasons.
First, my Aunt Shirley is an amazing woman and deserves a massive shoutout for being a marvelous host and keeping me, and everyone else around her, on their toes.
Secondly, this scenic and livable city got me thinking about Denver's market in relation to other markets across the country. The median home price in Fort Smith 2014 vs 2022 has risen from $105k to $158k ($53k in 8 years). In the same time period, Denver's median home price has risen from $295k to $626k ($331k in 8 years). While I have been asking for more affordable housing and I frequently see the stress of making such a large purchase for those in their late twenties, I have to think that this is such a great market for wealth creation. Buying a home at this age and simply living there for an extended period of time will create more wealth than most places in the United States (and hopefully be very enjoyable along the way).
Third, my time in Fort Smith had me thinking about history. We went down to the National Park site/museum and I was blown away with just how much history the site contained. The Fort played an important role in western expansion, the Civil War, outlaws in the Indian Territories (see True Grit), and sadly, the Trail of Tears. Instantly, I regretted not going out of my way to see more historical sites during my southern road trip. In regards to real estate, I think we can get too bogged down in speculation/fear and forget about the real estate market at large; the consistent patterns of rise, dip, rise.
Is this next year a good time to buy? With home prices dropping and ways to manipulate the rate, there is more of an opportunity now than in the past years to affordably get into a home that is a sound move for the long haul. I could type out a lot more about this, but if you're looking for a bit more information/data, let's chat!
Nate's final thoughts: I thoroughly enjoyed my trip through ten new states, seeing friends/family along the way and enjoying all of the beauty this country has to offer. However, I feel as if this trip has further cemented my love for Denver, my community here and the life I've been able to build here. As we enter the Thanksgiving season, I just want to sincerely extend my gratitude to all of you in this newsletter (near and far) for the support and role you've played in getting me here. Much love to you and yours!
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