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It doesn't mean prices will go down. It will just have more housing will be owned by the wealthy landowners or corporations while everyone else from them.
It will just have more housing will be owned by the wealthy landowners or corporations while everyone else from them.
That is not supported by the facts. Owner occupied home-ownership % is right now at the historical average for the last 55 years. It went down after the peak in 2005-2006 and then started back up in 2016. That % has varied +4% and -2% from where it is now in that time period. See here:
The wife and I just spent 5 days in the Caldwell/Nampa area house shopping. Still homeless.
That is a tough market. The 350-450 range is outta control. We looked at a place on Monday afternoon (actually 2) that we liked. By the time we got with our agent on Wed....too late! We're back home now,but, we're going back in a week or so. Gonna be aggressive this time! LOL
I had 2 job interviews while there. And, I have 2 job opportunities. So not all is lost.
I could point you to the same story by a new buyer in Maine on the Maine sub-forum here. Lost a few houses before he and the wife realized they needed to jump when they found what they wanted. A tough way to have to buy, indeed. How stable do you think you prospective jobs will be?
I could point you to the same story by a new buyer in Maine on the Maine sub-forum here. Lost a few houses before he and the wife realized they needed to jump when they found what they wanted. A tough way to have to buy, indeed. How stable do you think you prospective jobs will be?
Prospective jobs, and I will probably have more choices by the time I move, isn't really all that important. I don't need a job. I want a job, tho. My retirement is enough to live on, but, probably not enough to keep me busy 7 days a week. The one that I'm leaning towards is 4 days a week. Perfect.
OK... that's right. I forgot the retirement. Just worrying about having a mortgage but then losing the job. Sounds like not a worry; that's a nice spot to be in.
OK... that's right. I forgot the retirement. Just worrying about having a mortgage but then losing the job. Sounds like not a worry; that's a nice spot to be in.
Thanks. It is a nice spot to be in. Lotsa years of bustin my ass to get here. I had someone say to me, "Man. You're so lucky...." Uh, no. Not luck. I trust in working hard more than luck.
So, when is this "bubble" gonna pop???? I keep hearing talk of it, but, who knows? If it does after I sell and move, then so be it. If my retirement checks stop....well, then, we're all fooked, anyway!
I could point you to the same story by a new buyer in Maine on the Maine sub-forum here. Lost a few houses before he and the wife realized they needed to jump when they found what they wanted. A tough way to have to buy, indeed. How stable do you think you prospective jobs will be?
Yep, you gotta jump on whatever you think will work.
If you already lived in Treasure Valley and had time on your side, I'd be looking everyday, saving the houses you like (to get an idea how quickly they sell), and going to every open house you can.
That was my own formula, and I had my mom and brother come with me to the open houses so I could have a less biased view. So when we were under a crunch to get out of rental by the end of the lease, we were able to confidently jump on the first house that met our criteria. And yes, we put in our offer less than 24 hours after the house was listed.
I realize that we sound like one of those "fled our state, buying any house we can" type... but there was actually 4 years of research and living here behind it.
So, when is this "bubble" gonna pop???? I keep hearing talk of it, but, who knows? If it does after I sell and move, then so be it.
Well that is the concern.. if it does and someone buys high, and they lose their job and have no option but to move and sell at a loss. Happened when Digital Equipment went but up near Boston the 80's and in the last big recession and other times. If it will pop is the million $$ question being batted about here. And if it does, and one's personal finances hold OK, then most folks just wait it out 'til things come back around.
Just pure opinion:
- We don't have the structural economic issues like we did in 2006. This negative economic situation right now is about getting back to work.
- The demand to move out of the big cities is driving a lot of this migration to places like ID. It's not new, and I personally think this will continue for a while and only slowly abate. People are making major life decisions right now, with a lot of desire to carry those plans forward.
- So I would opine that this is gonna keep demand up in Boise, and in similar areas in general. Boise has seen high price growth in the past year or more, and some cities are predicted to see a significant price retraction, but others are predicted to have just small price retractions.
- I'd wait if I could (and am doing so). (Might not work out....but we waited on buying in the Outer Banks some dozen years back, and the prices indeed 'normalized'.)
The wife and I just spent 5 days in the Caldwell/Nampa area house shopping. Still homeless.
That is a tough market. The 350-450 range is outta control. We looked at a place on Monday afternoon (actually 2) that we liked. By the time we got with our agent on Wed....too late! We're back home now,but, we're going back in a week or so. Gonna be aggressive this time! LOL
I had 2 job interviews while there. And, I have 2 job opportunities. So not all is lost.
$350,000 TO $450,000?
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