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

 

 

2 Comments on Boise Idaho in the top 25 weakest housing markets?

JAN
15

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.

Sue Dahlgren
10:06pm • #1

Journalism is DEAD - Too bad  - It looks like the media must be suffering from the slowdown like the rest of the country. It is obvious that they have had to let qualified Journalist go and hire new ones at $10 per hour to write the news. IBR should be chastised and beaten with a New York Pizza for missing the reality on this one!

Interestingly enough Boise Valley will be one of the first bright spots to emerge from the recovery as people leave their Big Cities increased unemploymnet and increase crime, to flee to a normal life in a real city. The Boise Valley does not rely on the Big 3 Auto Makers or any other huge conglomerate. We are primarily a young vibrant city with hometown values with most growth coming from the service sector. Most of the people coming here don't come for the employment - thye come to escape the insanity of mega city life.

It is true that the resort areas will suffer the most as everyone including the rich tighten and contract as Resort properties become disposable investments due to their cyclical nature.

Dale Alverson
11:29pm • #2

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Jeff Martel

Eagle, ID

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43 Degrees North Real Estate

Address: 7400 West State Street, Boise, ID, 83714

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