Boise housing bubble 202112/13/2023 But the median housing price has shot up by more than 250%, according to data from Boise Regional Realtors. Since the recovery, median income has gone up in the area by about 20%. Lovell moved to Boise 10 years ago, when the housing market was at rock bottom. Energy & Environment Biden White House jammed on gas prices Illustration: Sarah Grillo/Axios The Biden White House increasingly views rising gasoline prices as a source of potential political peril and is now asking some of the world's biggest oil producers to pump more oil. So what's Marissa Lovell to do? Well, she's stuck for now in her tiny rental, hoping her landlord doesn't sell it. That has been a tough sell in libertarian-leaning states like Nevada and Idaho, which are routinely listed as the two fastest per capita growing states in the nation. They say the only real way to begin chipping away at the soaring-costs issue is to build more housing supply, particularly dense housing. Regardless, economists predict the housing market in Boise, with all of its amenities, will probably stay hot, like what was seen in cities such as Denver even amid the 2008 meltdown. In other words, does that guy who left Southern California for the rural north last through another Montana winter? Or as Coulson puts it, do major employers begin restricting work-from-home rules and call everyone back to their downtown offices after the pandemic? Nevertheless, a high-skilled service worker can on average finance 40 less living space than before the pandemic. Nominal property prices rose by 5 between mid-2021 and mid-2022just half the average growth rate in the past five years as well as the national average. "It's going to be interesting to see whether or not the changing preferences that we seem to have observed during the pandemic are permanent changes," says Coulson, director of the university's Center for Real Estate. Double-digit price gains have come to a halt in Frankfurt ´s housing market. If this trend sticks, Ed Coulson, an economist at the University of California, Irvine, doesn't expect much of a correction in the housing market in the next year. Record Prices For Red Hot Housing Market: 'Fear Of Missing Out'
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