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That's not going to really apply to people who buy a house in suburban Boise though (which is a huge chunk of the incoming population). They may eventually get tired of the fact that the top acts may not stop in Boise on every tour, that there's no pro sports teams, that maybe the restaurant scene isn't quite L.A. or San Francisco, but other than that I suspect they'll find life in suburban Boise isn't all that different from life in the suburb they moved from.
And perhaps the greatest reason that real estate prices boomed in San Fran, was that they "followed" wages in the booming Tech industries that started when, in the 1970's? Unless Boise has an influx of high-paying jobs in the future, as you say, people are going to wonder, "What exactly did I double my housing cost for, anyway?" Boise has good weather (that's all relative, but relative to Chicago, it's pretty good). But it's not coastal California. If it continues to grow, then who knows, professional sports may open stadiums there. Once upon a time, there were no Broncos, Nuggets, Jazz, and as the most recent example, the Raiders used to be an Oakland team - past examples were the Brooklyn Dodgers, LOL.
But the future of Boise is wide open if it continues to grow at its current rate, and competing cities (hello, Portland) continue to decline in desirability, and popularity. There's a chance that a lot of people will make money in real estate there, which is a two-edged sword, because I'm actually afraid of RE being used as a "commodity" like stocks, precious metals, etc., I think we were better off when our largest expenditures were not tied to boom/bust cycles to such a degree.
Last edited by Curly Q. Bobalink; 05-03-2021 at 01:48 AM..
Reason: spelling korrecshuns
And perhaps the greatest reason that real estate prices boomed in San Fran, was that they "followed" wages in the booming Tech industries that started when, in the 1970's? Unless Boise has an influx of high-paying jobs in the future, as you say, people are going to wonder, "What exactly did I double my housing cost for, anyway?" Boise has good weather (that's all relative, but relative to Chicago, it's pretty good). But it's not coastal California. If it continues to grow, then who knows, professional sports may open stadiums there. Once upon a time, there were no Broncos, Nuggets, Jazz, and as the most recent example, the Raiders used to be an Oakland team - past examples were the Brooklyn Dodgers, LOL.
But the future of Boise is wide open if it continues to grow at its current rate, and competing cities (hello, Portland) continue to decline in desirability, and popularity. There's a chance that a lot of people will make money in real estate there, which is a two-edged sword, because I'm actually afraid of RE being used as a "commodity" like stocks, precious metals, etc., I think we were better off when our largest expenditures were not tied to boom/bust cycles to such a degree.
I do not see Antifa ever being stopped in Portland, so Boise has a bright future.
Ada county median home prices are nipping at the heels of Portland prices. The last figure I saw was something like only 20k less. When you set aside politics and look just at fundamentals, amenities and location, it's really quite crazy actually.
Ada county median home prices are nipping at the heels of Portland prices. The last figure I saw was something like only 20k less. When you set aside politics and look just at fundamentals, amenities and location, it's really quite crazy actually.
Get ready for even higher prices if the housing assistance bill passes. It certainly doesn't help the supply side. And if you have little to no skin in the game what's to stop you from letting the house go into foreclosure?
I was gonna say I suppose it's one more big push before the crash, but at this point I think the government will just keep printing money to stave it off and all we have to deal with is hyperinflation. C'mon man! These surging house prices aren't healthy. If everyone is a millionaire then no one is a millionaire.
Get ready for even higher prices if the housing assistance bill passes.
Indeed. And it’s something that will accelerate the crash you elude to below. 2007 on steroids will be out future at this rate.
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I was gonna say I suppose it's one more big push before the crash, but at this point I think the government will just keep printing money to stave it off and all we have to deal with is hyperinflation. C'mon man! These surging house prices aren't healthy. If everyone is a millionaire then no one is a millionaire.
Truth. At this point we in the middle and those on the right are in for a heck of a few years. And I do think the crash just may come right after 2022 or 2024...how convenient for the dems since scapegoats will be available. Funny how that works out...
The Pro's all mention that there will not be another crash like 2006/2007 because the mortgage lending is a lot more strict and people qualifying for homes can afford them. If anything there may be a cool down but not a crash, but one never knows for sure. If there is a crash it will be a national issue.
Boise and Idaho are going to continue growing, so the shortage of homes will keep the market fierce.
The Pro's all mention that there will not be another crash like 2006/2007 because the mortgage lending is a lot more strict and people qualifying for homes can afford them. If anything there may be a cool down but not a crash, but one never knows for sure. If there is a crash it will be a national issue.
Boise and Idaho are going to continue growing, so the shortage of homes will keep the market fierce.
I agree but the difference here is the massive inflation with all this money printing and additional taxation. These I believe will be major contributors to the incoming market crash.
The Pro's all mention that there will not be another crash like 2006/2007 because the mortgage lending is a lot more strict and people qualifying for homes can afford them. If anything there may be a cool down but not a crash, but one never knows for sure. If there is a crash it will be a national issue.
Boise and Idaho are going to continue growing, so the shortage of homes will keep the market fierce.
There's nothing to indicate Boise will experience any type of crash that is localized. Just like last time it would be nationwide. But since the Treasure Valley is experiencing such a construction boom it is likely to suffer harder. Energy cities will ride it out better. Although it might be a little different this time since many of those cities are experiencing a migration boom this time around. It might be more select Plains cities that survive it best.
But we can't keep beating the drum that it's "different this time" when we're almost exactly following in the footsteps of the last debacle. Politicians created policies to make lending easier for low income buyers. Also a pressure on race. So now this time we'll just hand over gobs of money to put people in homeownership that may not be ready for it. And when things go south they can just walk away. Then guess what happens? The rich can swoop in again and buy up the cheaper properties. Seems these welfare policies find their way of getting into the hands of the wealthy/Wall Street. Maybe that's the plan all along?
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