
Donald Trump’s Big Move Could Reshape Idaho’s Housing Market
The word across the country in the new year is affordability. Whether you live in Idaho or Indiana, most folks are worried about their ability to own a home. If you’re a homeowner, then you worry about selling or whether your kids or grandkids will be available to buy a house.
Why Are Idaho Homes So Unaffordable?
There arguably isn’t a state that has benefited from the pandemic and the exodus from high-tax blue liberal states like California. Idaho has long been a refuge for those who want a life filled with family values, low crime, and incredible state beauty.
As more and more people moved to the Gem State, home prices skyrocketed, neighborhoods became overcrowded, and traffic congestion worsened.
Have you ever wondered how much home prices have risen in Idaho?
During the Great Recession, the median price of Ada County homes was $140,000, while the median price in Canyon County was $70,000. Those home prices now range from $350,000 to well over $1 million.
Idahoans benefited from historically low interest rates. Thanks to Joe Biden, interest rates rose to unaffordable levels.
Donald Trump's Major Move To Save Idaho Homeowners
Another troubling factor in the rise in homeownership is that businesses, not homeowners, are buying homes. These folks buy houses to rent, denying hardworking folks the opportunity to live in a single-family home.
Those days will be over if President Trump has his way. CNBC reports the president will ban big companies and corporations from destroying the residential housing market.
From Truth Social:
“It is for that reason, and much more, that I am immediately taking steps to ban large institutional investors from buying more single-family homes, and I will be calling on Congress to codify it. People live in homes, not corporations.”
The move by the administration would increase competition for families and bring more homes to the market. If Blackstone and others are forced to sell, thousands of homes will be available to Americans and Idahoans.
We’ll continue to update you on this story as it develops.
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