Why it’s Time to Stop New Construction
Call me Captain Obvious. Idaho housing prices are out of control. We'll share those troubling statistics with you in a minute. Politicians mention the buzzwords of 'affordable housing, smart development, working with developers. The truth is that our elected officials do not care about you or your family's ability to find a home.
US News and World Reports reported that our state was the fifth-best state in America to live in. What the investigative reporters failed to mention is that the once exemplary Idaho lifestyle is falling fast. We've sold our souls to developers who build, build, build, but do not offer any additional infrastructure to support the endless rows of new homes. How bad is it?
The Idaho Press reports that Canyon County Home prices have escalated to levels not seen in the Gem State since 2006. Canyon County homes are 39% more expensive than last year. Prices have risen by 20,000 in one month.
Idaho real estate schools are exploding with students who want to be agents. There's big money in real estate during a bubble. What happens when the bubble bursts? We have a lot fewer real estate agents in the Gem State.
I challenge any politician to come up with a legitimate solution to this problem. Idaho is not a state of high pay, so they're not many of us that can afford $300,000-$400,000 homes that are now 'entry' homes in our market. We must make developers start building smartly with the community in mind and not their egregious profits. Otherwise, the only folks who live in Idaho are the Californians.