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For reference, I moved into a decent 2 bedroom apartment off Bench Rd in Pocatello in 2006 for 450 per month. I moved to IF a few years later (and much better apartment) for 725 a month. I understand rents are based on what the market is willing to pay. But there perhaps is some price gauging going on here in 2022.
Interesting topic. I'm not sure you can blame just 1 part of the housing equation (builders) for all of the pricing problems. Lumber prices are way up. So are prices for just about everything else used to build a house, including labor. Right now, the average inflation rate for most of America was 7% for 2021. 2+ rounds of covid, other natural disasters, new covid protocols and regulations all play a part in that. Price increases may slow down some but I don't think you're likely to see a return to pricing from 10 or more years ago or whatever price point you're basing your analysis on. YMMV of course but it's not very likely.
Like I said if you support $1300 housing developments in Pocatello Idaho when you are full aware that there is a affordable housing shortage/crisis, then you need to go purchase a conscience. There is zero excuse for the richest country in the world to have hundreds of thousands of homeless or lower income families struggling for housing on a daily basis.
You know what? You're right...there is, as you say, "ZERO excuse for the richest country in the world to have hundreds of thousands of homeless or lower income families struggling for housing on a daily basis" and you know why? BECAUSE WE'RE THE RICHEST COUNTRY IN THE WORLD AND THERE'S NOT EXCUSE FOR THEM TO BE HOMELESS!"
There's NO excuse for them to actually BE homeless BECAUSE of our wealth...BECAUSE of the OPPORTUNITY of AMERICA...again, you've never been, go to Haiti, Dominican Republic, Honduras, most of Africa, and much of SE Asia....
You should consider changing your username to "Goldilocks"....
Like BanjoMike said, maybe someday you'll get everything JUST how you wish. Until then, even though it isn't in the "folk guitar" genre....go listen to Tears For Fears..."Everybody Wants to Rule the World."
Last edited by letsgobucks!; 01-20-2022 at 07:40 AM..
Reason: Too long
Affordable housing is not only an East Idaho problem. It it is statewide. Same here in North Idaho. Exactly the same. There are no easy solutions.
A year ago the median rent in Pocatello was around $680 a month according to city data. In one years time!! In one years time I repeat When I have seen other apts on the market, I could suffice to say the average rents in Pocatello are now about $1200 a month. cuz elitist Californians with money Moved here and jacked up all the real estate and made it expensive! Eastern Idaho was extremely Affordable one year ago. This is pure visciousness. And if someone can justify the additional costs of materials and etc resulting in a double the rent increase in one year,….then you need a Spiritual transformation in your life. Average rents of $1200 a month in Podunk Idaho Pocatello is disgusting and despicable. These people, the locals deserve to be able to afford housing for their families. And not have to take a backseat to some moron from California. How many more states will Californians render unaffordable and only for the rich? This is an American tragedy unfolding
You know what? You're right...there is, as you say, "ZERO excuse for the richest country in the world to have hundreds of thousands of homeless or lower income families struggling for housing on a daily basis" and you know why? BECAUSE WE'RE THE RICHEST COUNTRY IN THE WORLD AND THERE'S NOT EXCUSE FOR THEM TO BE HOMELESS!"
There's NO excuse for them to actually BE homeless BECAUSE of our wealth...BECAUSE of the OPPORTUNITY of AMERICA...again, you've never been, go to Haiti, Dominican Republic, Honduras, most of Africa, and much of SE Asia....
You should consider changing your username to "Goldilocks"....
Like BanjoMike said, maybe someday you'll get everything JUST how you wish. Until then, even though it isn't in the "folk guitar" genre....go listen to Tears For Fears..."Everybody Wants to Rule the World."
Look we take care of the poor folks who deserve it. And Unfortunately due to severe American political correctness and white guilt the topic Of abusing the welfare system will never be addressed. You will keep paying for the girl in The trailer park and in the projects in the inner city to keep having babies. I think they avg from 4 to 6 children a piece now. Baby’s mamas syndrome. You will continue to pay for illegal aliens and emergency room visits and their medical expenses all across America. You will continue to fund their subsidized housing with their extremely large families with multiple children. The borders are wide open, Lutheran social services keeps bringing over millions upon millions more refugees and flopping them all over the country. Upon which they all get very handsome stipends and housing. I get all that. My cry is for American citizens who are lower income and who are not hustlers And who are doing the right things in life but just don’t have a lot of money or income. Those people deserve affordable housing.
The sellers naturally will try to get the highest price. It takes two to complete that real estate transaction.
Of course.
The fact is simply sudden growth really complicates everything. Growth happens, and when it happens fast, it will over-run any old plans made for expansion, and will change the price of housing in the wink of an eye.
Who can be blamed?
Just as you say: Any homeowner who wants to sell his house naturally wants to get as much out of it as is reasonably possible, and any buyer will naturally want to keep the purchase as low as possible.
The best sale is the one that makes both sides satisfied. Neither is seldom delighted with the deal, but they can both live with it. After all, a little piece of ground to live on is always the most important thing a person can own in their life. Even if someone sells it, it's always dear to them to some degree afterward.
No one wants to pay the costs of housing for the homeless from the goodness of their tender hearts. Charity always has its limits. And charity favors the young and humble.
No one likes to give a big break like almost-free housing to bitter old geezers who are angry because they're down on their luck. Especially to a geezer they don't even know who demands charity for him and none for others.
Landlords are just like anyone else. They want as much as they can reasonably get from their rentals. "Reasonable" is always what the market will bear. That's not greed; it's human nature.
Nope. There are too many kids in bad situations who will appreciate any good thing they get a lot more, especially if they have grateful parents who are still young enough to make something of themselves if given the opportunity.
When Idaho grew 2.5% in 2021, and has grown by that much over the past 2 preceding years, Idaho Falls grew as much in 3 or 4 years as it grew in 30 years! And the growth has accelerated over 2021, far faster than I have ever witnessed in the past.
Heck, nowhereman; living in the Bay Area, you've been in the middle of growth like this for most of your life.
You could probably school us all on what to expect that will come from all this explosive expansion.
For sure, it's not going to stop for a long time to come.
Heck, nowhereman; living in the Bay Area, you've been in the middle of growth like this for most of your life.
You could probably school us all on what to expect that will come from all this explosive expansion.
For sure, it's not going to stop for a long time to come.
If you want to know what happened, is happening right now, in the Bay Area. Take a trip out there and experience it. Watch out where you step, lots of human excrement on the streets and sidewalks, between the beggars, drug addicts, mentally ill freaks, petty thieves and just plain lazy bums. That’s what you will eventually have in Idaho if what you see continues. It’s bad in California. But they feed them and encourage that behavior in the Bay Area. Weird.
This article suggests that while some Californians have moved to Idaho they were not the main driving source:
Quote:
That growth has some folks asking, are Californians moving to Idaho driving up home prices?
“We just got new data from the U.S. Census Bureau and over the last year the net in-migration into Idaho was almost 50-thousand. That is a huge jump and it's a huge impact on the Idaho market, so that is driving the demand for home prices,” Spendlove said. He went on to explain that people moving from California aren't the main driving force, but it is a contributing factor. That said, people from many other states are also moving to Idaho. Another contributing factor: lack of inventory. https://www.ktvb.com/article/news/lo...6-3dcf2821c696
I just had this discussion with a friend who is a realtor in Nevada. She said everyone blames the huge increases in rent and sales prices of homes in Northern Nevada is due to Californians moving to the state and she said that's just not happening, but what is happening is that real estate investors, corporations and hedge funds are buying every house and apartment complex they can get their hands on and they now own so many that they are one ones setting prices in the area. She also said that the Reno City Council allowed an investor to buy a large number of older motels which were a source of housing for low income families and retirees. They tore the motels down and are now holding the property in order with the goal of some future project that will turn it into a shopping and entertainment mecca. She mentioned that there are no affordable apartments, and the people hurt the most are those who are working for minimum wage ($7.25) or a few dollars more who are now becoming homeless.
And I saw that pattern in Sacramento too, for a long time it was quite affordable, then the investors, both foreign and corporate came in and bought everything they could the result was rent for a 1 bedroom apartment going from $600 to $1300 in a few years. I don't have any answers but I think people buying single family homes not to live in but as an investment should be taxed differently than owner occupied homes and some of that money diverted to the construction of low cost housing. https://sacramentoappraisalblog.com/...ousing-market/
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