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Raam57 t1_j5sntfi wrote

Reply to comment by pdxschroeder in New owner of Astoria Goonies house wants to keep it open for movie fans by OregonTripleBeam

I just don’t see this as a solid long term investment. I mean the movie is nearly 40 years old and I doubt the fan base is growing. It came out l a decade and a half before I was born and I’ve never seen it and I can’t imagine many younger than myself have either.

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WeirdSeaworthiness67 t1_j5tdoo3 wrote

You make a point, but your age doesn’t dictate how the world remembers and enjoys movies. They outlast us.

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UncookedMarsupial t1_j5tisv1 wrote

I lived in Astoria for a while. The Goonies love is still very much alive. Goonies weekend brings a lot of tourism to the small city.

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BewilderedOstrich t1_j5tm10t wrote

Ding ding ding. I promise if an absolute no where town like Rockford can remain relevant all these years purely because Cheap Trick came from there, I can guarentee Astoria hasn't been forgotten.

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UncookedMarsupial t1_j5uu52k wrote

I worked in restaurants in Astoria and it was awful. Until the summer there is barely enough work to go around. As soon as tourist season hits you can't find enough workers.

I have PTSD from Goonies weekends.

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tkrynsky t1_j5ttk73 wrote

Was just there last summer. Swung by the Goonies museum too, it was pretty fun.

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Vlvthamr t1_j5tqezj wrote

My kids are teenagers and they’ve seen it many times. Just because you’ve never seen it doesn’t mean others your age or younger haven’t.

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littlebluedot42 t1_j5u2uph wrote

Seriously. The logical fallacy is nothing compared to the confident ignorance in that sentence alone. That's gonna bite them hard in the ass, one of these days.

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Raam57 t1_j5vijcg wrote

Please see my other response to another user. I’ve listened to Elvis music before that doesn’t mean I’m gonna spend money on things associated with him and the decline in impersonators clearly shows a decline in his fan base as time goes on. The house clearly was bought as an investment and questioning the long term sustainability of the fan base for a nearly 40 year old movie as the basis of an investment is a fair point

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Duganz t1_j5tghtv wrote

Your lack of imagination doesn’t matter.

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DanitesHell t1_j5tott9 wrote

if they only attracted millennials for 50 years it would still have plenty of business opportunities.

We’re the biggest generation in American history, plenty of chances to make a buck or two off them.

Plus at end of day it’s still a home which you can use to live in. Sounds like buyer is a massive fan so he probably enjoys owning it whether or not he continues to get visitors.

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Raam57 t1_j5vr2cl wrote

As I’ve commented to others look at the declining fan base of Elvis over the last 20 years. Even better look at the state of the House of Cash while Johnny Cash was still alive. The article implies the premium is due to its association with the movie. It doesn’t mention how much the premium is compared to other nearby houses. That said a huge difference exist between paying a premium for something because you want it and paying a premium because you intend to make money on it.

There is a huge difference between criticizing a investment versus hoping it fails. I don’t think criticizing an investment is a bad thing. I don’t deny the size of millennials but I question if enough will actually be willing to spend money on it to justify the purchase. I mean if they rent out the house at the AVG Airbnb rate of $137 a night, manage to be booked every single night and have zero operating expenses it’ll still take over 30 years to just recoup what they paid.

As an investment I just don’t see this being worth it when you’d have better ways to invest your money over the same time period. This is also an investment against the clock since as time passes it’ll become just another house in an old movie.

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DanitesHell t1_j5vwuyr wrote

Clearly this isn’t an investment for max profit.

He a huge fan of the movie, i don’t think it’s weird he purchased it at all .

air bnb comparison makes zero sense. why would they rent it at the average price?

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rmprice222 t1_j5tnymr wrote

Well it is still a very large house, real estate is solid to invest in regardless

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littlebluedot42 t1_j5u39gp wrote

To be fair, sound real estate investments are, well, sound. 🤷🏼‍♂️

If you'd disagree, I do happen to know at least one realtor who'd like to chat on the coast of Florida...

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imahawki t1_j5ufwhd wrote

This is such a weird take. People travel internationally to see the palazzo where Micheal Corleone hid out in Godfather II. My kids are 12-18 and have seen (multiple times) and love The Goonies.

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Raam57 t1_j5vhsrg wrote

While I haven’t seen it I’m not sure it’s fair to compare The Goonies and The godfather. Either way your comment is missing the point. The article seem to imply that the premium for the house is in part due to its association with the movie.

I understand people have nostalgia for things but that doesn’t translate into something being a slam dunk investment worthy of the price. A good example of this is would be the decline of Elvis impersonators over the last 20 years. Clearly as time has gone his fan base has decreased. This movie is like Elvis. Just because you’ve heard the music doesn’t mean you’re enough of a fan who is willing to spend money on things associated with it. Everyone who doesn’t think fan bases shrink is in denial.

What people are missing though is that today a lot of content exist for kids to watch. I find it doubtful in the future they’ll be nostalgic over the same thing their parents were. I can’t imagine more relatable shows/movies don’t exist for kids today and the world they live in now than a movie that’s 10-15 years older than their parents

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imahawki t1_j5vj50c wrote

Peak Reddit: I haven’t seen it but I’m going to type a three paragraph argument anyway.

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Raam57 t1_j5vsnce wrote

Peak Reddit: completely ignores my comments twice about businesses based on nostalgia probably not being a great investment long term because “I love The Goonies”. You’re the one who responded to my comment calling it a “weird take” so I further explained it. If you didn’t want a response why comment?

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thunder_struck85 t1_j5to6w6 wrote

Those who do remember it are the ones with enough money now in life to buy it. So in another few years that's who could potentially buy it.

It's a niche product.

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