prices in Williston

[IDtheftV]

Originally Posted by Spacat

When is housing supposed to improve in Williston? I read a year or 2 ago that they were building tons of new hotels and apartment complexes.

It's a moving target.

The housing supply has more than doubled in 5 years. Building all those places have kept a lid on prices - relative to what it would have been. While the population isn't likely to double ( again ) in the next 5 years, the housing stock isn't likely to do so either since that would require another doubling of the workload for permitting, sewer, running power, etc.

It would be smart to simply assume that prices for housing will never get better and budget for it. One should make their decision to move based on that budget.

It would be smarter to settle for less home than one would in another place. I moved all my stuff into an 18x15 efficiency. If I was paying for it, it would be $1,200/mo. If I was paying for it in Wiliston, it would be closer to $2k. I wouldn't be stupid enough to assume that I "deserved" to live in a place with a real, separate bedroom just because I did in another city.

It is best to simply lower your expectations for your living conditions. As long as it is clean and safe, call it good and save your money. Unfortunately, I don't see much of that ( saving activity ) around here. People spend like Americans on ( financial ) steroids.

[mapmd]

Originally Posted by Spacat

When is housing supposed to improve in Williston? I read a year or 2 ago that they were building tons of new hotels and apartment complexes.

Gotta attract workers to actually build the stuff, which means paying them enough that they'd move from other states and then either provide housing for them or enough wage/salary that would make the transition worth it.

And even then building new construction is a risky prospect. Never know when that boom is going to end so you can expect market rents to remain high for a long time even with new supply coming in. Housing is a laggard in the economy, you can't buy or sell in an instant and it takes months for people to get out of their leases to even think about finding other digs at another price. Thus everything is slow to adjust.