Boise housing price's

[WRO]

The work from home after Covid has a lot of people searching for a better lifestyle away from the big cities.
Who can blame them?

Sadly, the sprawl of the Boise area at an exponential rate brings the traffic congestion....and it can take 45 to an hour minutes during commute hours to get from Boise to Star.

There are still plenty of homes at reasonable prices. Factor in THIS; The few friends and fam I have that moved to the Boise area in the last 5 years have experienced HUGE appreciation on their homes- so there is that.

Also factor that in 10 years every alfalfa field from Middleton to Boise will be tract homes and the congestion will be a lot worse.

Look at onX, most are already owned by Brighton and Corey Barton though their holding companies.

Avimoor is going to destroy the foothills winter range. Mayfield is going to screw a lot of 39 deer.


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[Ucsdryder]

With all the investment going on in ada county, don’t expect a 2008 level correction.

There’s a pipeline of 25 billion in investment in the next decade between micron, meta, and Google coming. It’s only going to get worse long term.


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Everybody seems to forget what drove the 2008 correction. It wasn’t high purchase prices.

 

[TheTone]

Look at onX, most are already owned by Brighton and Corey Barton though their holding companies.

Avimoor is going to destroy the foothills winter range. Mayfield is going to screw a lot of 39 deer.


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I saw some old pictures of IDFG collaring wintering deer where avimoor is. Sucks to see the winter range just being destroyed

 

[Hnthrdr]

With all the investment going on in ada county, don’t expect a 2008 level correction.

There’s a pipeline of 25 billion in investment in the next decade between micron, meta, and Google coming. It’s only going to get worse long term.


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I’m not saying there will be a 2008 bloodbath, but demographics are not in favor of pushing our asset prices up, immigration (illegal) has slowed, legal migration h-1b should be slowing as well. There can be plenty of dollars pumped into areas but without willing & able buyers the math just can’t math

 

[Hnthrdr]

Everybody seems to forget what drove the 2008 correction. It wasn’t high purchase prices.

Yep… BS lending practices… mortgage fraud. Don’t look too deep into FHA delinquencies or current lending practices. If the feds decide to crack down on mortgage fraud how many Airbnb’s were bought that way?

 

[thinhorn_AK]

Thanks to Biden, and now Trump prices are just going to continue to fly higher.....covid, and now tariffs are going to make things unbearable for the younger generations. If you think you aren't paying for those tariffs you better shop for a better brain.

Yeah. I voted for Trump and he’s better than the alternative but he’s a ******* disgrace.

 

[thinhorn_AK]

stupid expensive. A “starter” home will cost you a minimum of $400k, and that’s the floor. Just sold my beat-to-hell 1996 cheaply built home of 1,130 sq feet for $460,00.

I guess it’s a sign of the times when I see 400k and think “that’s not bad”, not that I’m rich, but all the homes ever looked at recently for a potential move are like 550+k and they aren’t even super amazing homes.

 

[thinhorn_AK]

The work from home after Covid has a lot of people searching for a better lifestyle away from the big cities.
Who can blame them?

Sadly, the sprawl of the Boise area at an exponential rate brings the traffic congestion....and it can take 45 to an hour minutes during commute hours to get from Boise to Star.

There are still plenty of homes at reasonable prices. Factor in THIS; The few friends and fam I have that moved to the Boise area in the last 5 years have experienced HUGE appreciation on their homes- so there is that.

Also factor that in 10 years every alfalfa field from Middleton to Boise will be tract homes and the congestion will be a lot worse.

I want to work from home AND live in the city, I’m sick of shoveling snow and chopping firewood and spending an hour in my car to go to the store and come back home….

 

[180ls1]

Last I looked (its been a year or two) they were fighting with San Diego for the least affordable places to live. Like #1 and #2.

Remember, that is dependent on averages which includes income - not just gross price. YMMV

 

[Hnthrdr]

I guess it’s a sign of the times when I see 400k and think “that’s not bad”, not that I’m rich, but all the homes ever looked at recently for a potential move are like 550+k and they aren’t even super amazing homes.

Yeah it’s kind of depressing, devaluing our dollars to artificially inflate asset prices sucks… especially when wages are somewhat stagnant compared to the inflation,

 

[thinhorn_AK]

Last I looked (its been a year or two) they were fighting with San Diego for the least affordable places to live. Like #1 and #2.

Remember, that is dependent on averages which includes income - not just gross price. YMMV

That’s wild. Where I’m living the cost of living is far outpacing salaries even with rural living stipends. Me and my wife both get paid ~ 30% extra as retention bonuses or whatever but we are realizing we’d probably be better off moving, losing the bonuses and paying prices more in line with the lower 48 (Anchorage). Those big paychecks don’t last long when any labor you need done (houses, cars, septic, boiler etc) costs 50% more than elsewhere and gas is 9 dollars a gallon. It seems like just driving past the grocery store costs me 150.00 these days. When we first left the city and moved to a rural area, it wasn’t like that, we were getting 30% pay increases, we got our house for 310k, gas was about a dollar more than the city and a gallon of milk while expensive was still under 6 dollars a gallon. Not anymore.

Shit I picked up a few pizzas last night because I didn’t want to cook at it cost me 75 bucks for 2 pizzas. People here all talk about the high pay but that’s been chipped away at. Moving back to the city would make us lose 30% of our salary but cost of living would be 50% cheaper.

I’ve been offered 470k for the house I paid 310k for but 470k dosent get as much house as it used to.

 

[270quest]

Take this for what it is, but I work for the second largest builder in the Boise Valley. I guess technically I’m an exec Manager - whatever that means.

My job is to help design our new subdivisions and plat out our build phases while controlling our new starts pace. The market is not slowing down anytime soon. Yes there might be a slight dip in prices right now, but that’s gonna continue to rise over the next few years. We are going to build over 600 houses this year next year‘s budget is probably looking around the 800 mark. There may be some supply on resale homes but the new sale market is this hot as it has been in the last few years.

Our house are typically run right now from 450-$850,000.depending on the community and the upper end communities are selling just as many new builds as the entry-level communities.

6-7 years ago we had communities in Meridian that you could get into houses for $200-$250,000. Those houses are on the resale market today anywhere between 450 and 600,000. Over time real estate always gonna go up and waiting to buy based on rates and pricing is not always the best idea.

 

[WRO]

I’m not saying there will be a 2008 bloodbath, but demographics are not in favor of pushing our asset prices up, immigration (illegal) has slowed, legal migration h-1b should be slowing as well. There can be plenty of dollars pumped into areas but without willing & able buyers the math just can’t math

I don’t know where you’re from, but we have a huge influx of political refugees from ca, or, wa etc that have the means to keep driving prices up. Boise/meridian isn’t much of a migrant community if you don’t count the Somalis Obama shipped in.

 

[P Carter]

I think these folks are right. We bought our first house in 2012 and sold it in 2020 for exactly twice what we paid for it. The rate of price growth has slowed but prices haven’t decreased. It’s expensive and local wage growth hasn’t kept pace. Not sure where we are going to end up but it’s not looking great.

 

[Fitz]

My parent's home in boise has more than doubled in "value" in the past 8 years, closer to 8-9% per year which is nuts. 5 bed 3k sq foot, purchased on a government salary. Happy for them but this market is difficult for first time buyers.

 

[rclouse79]

I am thankful we bought 10 years ago. We could only afford 1/2 of the house we bought back then.

 

[Fever Buck]

Boise seems to be about 20% cheaper for a comparable house on the Front Range of CO. Bigger lots though.

 

[Hnthrdr]

I don’t know where you’re from, but we have a huge influx of political refugees from ca, or, wa etc that have the means to keep driving prices up. Boise/meridian isn’t much of a migrant community if you don’t count the Somalis Obama shipped in.

I’m from the west side of the front range of Co, where a starter home in my town in about 600k, our growth has slowed from the ruling politicians making an absolute cluster F out of this state, but it’s still beautiful and for now there is a lot of industry in the metro. We also have 4x + the population of ID so more potential buyers and the insane pricing is grinding stuff to a halt. Only well priced stuff or super super desirable location moves quickly. Man I hope for future me ID can stay deep Red…

 

[ODB]

it’s dumb. And they are building cheap stuff like crazy to try to fill needs.

As silly as it is to say I am glad we moved in the middle of Covid. We could not have afforded the house we got. Well, we could have, but dumping everything into a house was not the plan.

 

[North of 60]

I'm glad this thread posted as we are looking to be heading up that way (ID or western MT) next year after my wife retires in December.

From the looking I've done the Boise metro area is a little cheaper than north ID. Housing is crazy expensive everywhere in the west and glad I'm not a young person just starting out.

I'm looking for elk, lots of public land, great trails to hike/Mtn bike, and white water for kayaking/rafting are bonus.