2024 Boise Housing Market Predictions: A Reverse Market Crash?
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- เผยแพร่เมื่อ 27 ก.ย. 2024
- 2024 Boise Housing Market Predictions: A Reverse Market Crash?
Ahhh... new year's house market predictions. Don't you just love the never ending click bait call for a housing market crash? (Of course, accompanied by lots of flames). Well, ever heard of a reverse market crash? A reverse housing market crash is a sudden and substantial inflation in value in the housing market. And there are several reasons why I can see the Boise Idaho housing market headed that way. So if you're wondering will home prices drop in 2024 or when will the housing market crash again, my 2024 housing market forecast will help you understand what to expect for the Boise housing market if you are thinking of living in Boise Idaho or moving to Boise Idaho in 2024.
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2024 Boise Housing Market Predictions! Always a fun time in the comments.
The issue with the market is BlackRock bought up 44% of the market. This should be indeed illegal.
Yes, I agree. Investors are artificially driving prices higher. I've seen it happen where I live too. We need to limit the number of investor owned properties, so the locals and especially young people can afford them again. 💪👊
100%. The problem is that they work through developers to get them exempted from new laws like short term rentals. Next, they start to control city councils, usually by new members. They bring up problems like unaffordable housing and blame it on short term rentals and they outlaw them. The owners of the STRs fire-sell the properties and it reduces the prices for Blackrock to come in and buy them.
It's happening in Mammoth, Ca right now.
Blackrock made me Rich huge equity
Great job on your successful 2023 predictions! Wishing you and your team all the best in 2024. You covered a lot of ground in this release. Well done Summer (and team). 😊
Well thanks so much! 2024 will be interesting!
I hope the Idaho market reverses because I got chased out due to all the migration raising prices. If there is a reverse market crash, I will move back.
Thank you for the election year view of the market!
You're welcome! Thanks for watching and commenting!
I think you are spot on. Thanks for the great report.
You're welcome! Thanks for watching and commenting!
Still building houses in Star
Yes, there is still lots of construction going on in Star. However, the inventory of spec homes is currently quite low as of end of Feb. 2024, so more people are having to go to build jobs. They did start pulling more permits than last year, so hopefully there will be more spec home inventory coming. CBH always has a steady supply of spec home inventory, but the others are pretty much focusing on build jobs.
I’m appreciate your analysis. I just believe inflation will cause a job loss the mortgage industry is already contracting not expanding. Banks are laying off and they too executives are cashing in on stocks. Makes me think 2024/2025 could get rough.
There are certainly lots of factors at play and that scenario could come to pass for sure...it's just that it takes months for jobs losses to effect home sales, so IF job losses come in a few months from now, we wouldn't see home sales increase until much later this year, and due to most people having so much equity still, home prices would drop, but we wouldn't see foreclosures on the rise for another year or two at least. But I think another factor, for this election year, is that the powers that be will continue to manipulate things such that all looks well at least until the election is over...we will see.
@@SummerAstonRealEstate yeah. The my believe we can’t see their manipulation on us. We own a home in Ozarks and Big island Hawaii. Certainly Hawaii is expensive but where we are it’s much safer than the mainland.
What is your prediction for new realtors coming into the business in the Treasure Valley?
New realtors are always coming to the Treasure Valley and also many realtors leave the job every year as well. I am sure we will have fewer than in 2020-2021 when the market was on fire, and people are uncertain about the housing market, especially after the election.
I like the area but there has to be some major improvements on traffic flow. Any plans on new highways or byways?
Yes, they are always working on the roads, but usually one step behind. The biggest project they have right now is to connect highway 16 to highway 84 to create a N-S highway. That is underway. You can see all of the other changes proposed at the Ada County Highway District Website as well as each individual cities' planning and zoning websites. Just purchase a house in an area that avoids the most congested traffic :) (Hint: areas that are already built out, or areas away from major growth).
2023 sucks if time my dog passed
I am sorry to hear that. I have lost beloved dogs as well and it is very hard. I hope you find healing in 2024.
Happy New Year, Summer and may 2024 bring some good things to you and your family. Idaho is heavily dependent on out of state buyers. Many of those people are sellers too. It is very likely that we'll be in a recession in the first half of 2024. It is very possible that it could be a severe recession. Slow downs in economic activity will translate into job losses and business failures in an already weak, unstable economy. Real estate typically doesn't do well during recessions with downward pressures on prices, due to less money being available in the economy. There's the possibility of a financial crisis on top of a recession that could make things even worse. It doesn't bother us too much, because we're cash buyers who are planning to buy something in the Treasure Valley in 2024, and we're fortunate to live in a strong, highly desirable market in California where home values are holding well.
Whatever happens in 2024, it's sure to be interesting. Get out the popcorn.
As the Chinese say, "May you live in interesting times." I say that we're living in times that are too interesting. "Plan for the worst and hope for the best ." By the grace of God we'll get through no matter what happens. 💪👊@@SummerAstonRealEstate
😍
Pure hopium.
What do you predict will happen from 1-2 feet of snow over the next couple of weeks?
Hmmm... I'll believe it when I see it! If it happens, I predict people will either be grateful for snow or complain about it. 😉
@@SummerAstonRealEstate Well so far I'm grateful for the 7" we got in here in Garden City. Especially if it detours any Liberal pansies.