Here we go again! It’s a vicious cycle for me. City home. Country home. City home. Country home. After losing my shirt on the Beacon home during the market downshift, I vowed never to invest anywhere other than the 5 boroughs again. I also vowed that would be my last renovation.

But I am an addict. I’m itching for a renovation even though I know it’s bad for my physical, mental and financial health. And right now, upstate New York is one big bargain basement!

Good thing I don’t even have the savings for a bargain right now.

But…

Now is the time to buy. There are plenty of second homes on the market. The economy is depressed. Towns are even more depressed. Interest rates are as low as they get. Passing through Stone Ridge last week, it looked as if every other house was for sale. In once completely unaffordable Rhinebeck, there were actually a few places under $200k. People are nervous and can’t do the second mortgage and high taxes. They are purging.

Ah, we didn’t get to see that Millbrook property I wanted to look at. Decided not to schlep to Millbrook when we saw that there’s already an accepted offer. Somebody is making a good move.

What *I really want is an entire bungalow colony. A house? Been there. Done that. Borrring. I need more of a challenge. I’m bringing back the Catskills, baby! (*Notice I say “I”, not “we”.)

We looked at two abandoned colonies in Ellenville (see below for listings). The town didn’t seem as run down as it did a couple of years ago, but maybe that was my rose colored glasses. There were some active colonies that had been taken over by Hasidic Jews. It was nice to see some life up there even though those people wouldn’t play with me. My idea is to make a colony for the oughts. I hate to say it, but a hipster colony.

The reason the Catskills faded was that people were able to fly to distant destinations. Although that still remains true, the staycation has become more popular since flying is a pain in the ass now. Less money, less time, more responsibilities means staying closer to home looks better.

The idea is exciting. Probably a helluvalot more exciting than actually restoring an entire colony. I have some peeps who may be interested in doing this with me and we’ll probably look into it more seriously come September. A cooperative thing would be easier than going it alone.

Ping me if you want in. What’s the worst that can happen? You’ll learn to renovate and have a place to go for the summer.

Camp Road. 21 units on 7 acres. $284,999.

Katzman Road. 13 units on 35 acres. $218k.