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I've been watching Boise as the canary in the coalmine. You are starting to see it cool down as more listings are on the market now then 3-4 months ago. Homes a

I've been watching Boise as the canary in the coalmine. You are starting to see it cool down as more listings are on the market now then 3-4 months ago. Homes are going for closer to asking if not under and homes are sitting on the market longer. If Boise goes south then I feel a lot of other hot markets since covid will go 2-6 months after.

VRay 5y ago
That's interesting, what do you think sets Boise apart as a good leading indicator? I was thinking the same thing myself, presumably the economy will crumble from the bottom-up next time. So once my rural hometown is a flaming pile of wreckage, I'll close out all my risky positions
- rootsudo 5y ago
  Because, there is not much manufacturing or reason for Boise or that area to really support high real estate prices. That area IMO is akin to wealth leaving core metropolitan cities and investing in areas where are close enough, yet not near a metropolitan area. Or something like that.
Ccecil 5y ago
Coeur d'Alene/Spokane as well. Would like to think it is going to get better but this recent spike has only left things open more for market manipulation in the rental market. Even if things get better in the housing prices there is still a huge housing issue for the people who make less than $100k a year (average rate of pay in Coeur d'alene is $20/hr, minimum wage still $7.25, waiters can be paid ~$3.60/hr plus tips). The tent cities option that Ketchum was exploring recently is a thing we are going to be seeing a lot more often.
- kazen44 5y ago
  > The tent cities option that Ketchum was exploring recently is a thing we are going to be seeing a lot more often. i wonder how long it will take before the goverments are forced to take action? i mean, after world war 2, there was a massive housing crisis in europe because of cities turned to rubble, but thanks to massive public works programmes which created housing, this was solved relately quickly (<10 years in some cases). The free market will not solve this problem because the shortage of houses is actually netting them more money, especially with the massive amount of money pumping going on.

VRay 5y ago

That's interesting, what do you think sets Boise apart as a good leading indicator? I was thinking the same thing myself, presumably the economy will crumble from the bottom-up next time. So once my rural hometown is a flaming pile of wreckage, I'll close out all my risky positions

rootsudo 5y ago
Because, there is not much manufacturing or reason for Boise or that area to really support high real estate prices. That area IMO is akin to wealth leaving core metropolitan cities and investing in areas where are close enough, yet not near a metropolitan area. Or something like that.

Ccecil 5y ago

Coeur d'Alene/Spokane as well. Would like to think it is going to get better but this recent spike has only left things open more for market manipulation in the rental market. Even if things get better in the housing prices there is still a huge housing issue for the people who make less than $100k a year (average rate of pay in Coeur d'alene is $20/hr, minimum wage still $7.25, waiters can be paid ~$3.60/hr plus tips). The tent cities option that Ketchum was exploring recently is a thing we are going to be seeing a lot more often.

kazen44 5y ago
> The tent cities option that Ketchum was exploring recently is a thing we are going to be seeing a lot more often. i wonder how long it will take before the goverments are forced to take action? i mean, after world war 2, there was a massive housing crisis in europe because of cities turned to rubble, but thanks to massive public works programmes which created housing, this was solved relately quickly (<10 years in some cases). The free market will not solve this problem because the shortage of houses is actually netting them more money, especially with the massive amount of money pumping going on.