‘Boise Is In A Full Fledged Housing Crash,’ Real Estate Expert Says
We all know the saying, what goes up, must go down. This could be good news for those in Boise and its surrounding areas looking for a reasonable price on a home.
From a Florida Atlantic University study, Boise has already been recognized as America's most overpriced home market. Now, Idaho's capital city could be in line for some steep price reductions in home prices. This is excellent news if you're buying a home and not so great if you're selling your home.
In his Youtube video, Nicholas Gerli, Founder and CEO of Renventure Consulting, the data from Realtor.com shows that Boise leads the nation in price reductions at 920%. He says that the Boise, Idaho market was ten times as many listeners on the market a year ago. Gerli reports that the housing crash has started in Boise, Stockton, and Austin, and now is a much better time to buy now.
"Boise is in a full-fledged housing crash," Gerli says. "It's important to remember in a place like Boise that has the number one job growth in America, the number three inward migration in America is in a housing crash." He says that those on the West Coast who predicted the housing crash wouldn't happen were wrong. Gerli indicates that housing prices will be reduced twenty to forty percent from where they are today.
One of the reasons for these markets starting to struggle is that the folks leaving California have stopped. Without the high-paying jobs, locals cannot afford to pay the higher home prices. You can watch the entire video below.