Idaho’s Housing Market Called Over-Heated
Guess who has the most over-valued housing costs in the nation? My dad always had an answer for Captain Obvious, “You get three guesses and the first two don’t count!” It’s Boise, according to a story from Fortune. Neighboring Utah has three of the top ten overheated markets. Which means sandwiched in between, Twin Falls is likely overheated as well. The market simply isn’t large enough to join the survey.
A friend is actually renting an RV to an employee because housing costs elsewhere would force the woman to move away and find another job.
Real estate websites are mixed about prices anytime soon coming down. Unlike the bubble of 2006 when there were too many available homes, there are now too few. In 2006, builders were putting up 1.7 million houses a month. Now it’s just 1.2 million. Also, keep in mind, Utah and Idaho are per capita the fastest growing states in the union. In other words, the market will remain hot well into the future.
Are there options? Business Insider features a story about a guy living out of a 27 foot RV. He rented his home and works from the road. He suggests you can also save some serious money by living in the RV and shopping at Costco.
We’ve mentioned before there are people renting out space to RV owners and in some cases against local ordinances, however. Government has been hesitant to get in the way because nobody wants to drive people into a homeless encampment in Rock Creek Canyon.
A friend is actually renting an RV to an employee because housing costs elsewhere would force the woman to move away and find another job.
Considering the labor shortage, many employers may be looking for creative means to house workers.