The real estate market in Idaho has taken a dive in recent weeks and many are starting to wonder whether they can afford a house or if it’s just too good to be true.
The realtor who helped broker a sale of a home for $5.8 million on the eve of the Great Recession in 2009 said that many prospective buyers are still searching for homes.
“You see it every year,” said Mike Crouch, who has lived in Boise for 18 years and helped broker the sale.
“There’s a lot of young people, and they just don’t have the resources to buy houses in Idaho anymore.
And I see a lot more people thinking, ‘What’s my chance?'”
Crouch has seen the trend over the last few years and said that the real estate industry has lost its way.
“The average home price in Boise, Idaho is now about $1.5 million, so people are thinking about buying,” Crouch said.
“They’re starting to look for bigger, more expensive houses.”
The Great Recession put a dent in the housing market in the U.S. and other countries.
The U.K. and Spain are the only two major economies in the world that have not seen a housing bubble burst.
Idaho has experienced some of the worst housing price declines in the nation, but Crouch thinks the state is still in the midst of a recovery.
The housing market is in a recovery mode and is looking for buyers, but some of those are starting from scratch, he said.
“I don’t know if people are looking for a house, or they’re looking for something that’s not right,” Cople said.
Crouch said there is one key difference between the housing industry and the real world, and that is the demand for land.
People are buying land in the Boise area to make space for their new homes, he added.
But some people aren’t looking for new homes or even the chance to buy.
Some homeowners are taking the bait and taking a chance on the land, but others aren’t willing to commit their home.
“They’re not willing to make a sacrifice in their life and say, ‘I don’st want to sell my house, because I’m going to be a part of this community,'” Crouch told The Washington Post.
“That’s why I have been telling them, ‘There’s this opportunity, and it’s not as easy as you think.'”
The Idaho real estate board has been issuing warnings about the real-estate market, including the warning that Idaho could be the next bubble to burst.
Realtor Mike Cople says that people are now buying homes in the Idaho area because they think the market is so strong.
But the reality is that Boise is still struggling with a housing market that is still growing.
For example, the median home price is now $1,521,000, but that’s still $600,000 less than the median house price in Idaho as of January 2018.
The median home sale price is $1 million, but the median sale price for new construction in the state has risen to $3.5 billion, according to the Idaho Real Estate Board.