WHATTTTT? Forbes wrote that Boise Idaho was in the top 25 weakest housing markets! the article only makes a small mention here:
"Provo, Utah, and Boise City, Idaho, are also headed down with the drop in nearby ski home sales, says Mark Zandi, chief economist for Moody's Economy.com."
Ok - first off I obviously have no idea where I live because I NEVER KNEW I LIVED IN A RESORT TOWN! Boise, Idaho isn't a second home ski resort town. Companies like HP, Micron, Simplot, and Boise Cascade have huge presences here. This is a technology town. This is the town that will pioneer green energy sources. There are more patents per capita in Idaho than any other state. This is not a ski bum town. There aren't multi-million dollar McMansions along the ski runs... we live by the foothills - not the mountains. The closest ski resort is 45 minutes from town. The median price for a nice home in Boise is around $200,000 - not $2 Million like in ski resort towns. I think the Mark Zandi needs to take a trip to Boise so he knows what he is talking about.
Check this movie out to see what I'm talking about: http://www.youtube.com/watch?v=X4tmsogmVqM&eurl=http://www.newconstructionboise.com/video/&feature=player_embedded
Jeff-
I was also stumped when I read the article. I was even more surprised when the IBR quoted it. Shouldn't they know better? It is true that towns like Cascade and McCall are suffering with the decline in 2nd homes and resort homes, but Boise? How many people buy a 2nd home here? It seems evident that the Forbes writer doesn't know where Boise is, but it is unforgivable that the IBR would publish news like that.