Looking at possible retirement locations - MT, ID

[2506]

Ugh. I'm stuck in Seattle until they let my knucklehead out of high school in 2023. Graduation/last day of school and the moving company showing up are gonna be the same day.

 

[crstrode]

That's why Spokane/Liberty Lake, N.Idaho are so appealing. Spokane has great healthcare, and 45 minutes to Seattle if things get really serious. Probably why land/housing in those areas is hot.

45 minutes to Seattle? You must be joking (probably just trolling).

I sugget you check your Rand-McNally.

Additionally, if your health concerns are such that they cannot be adequately addressed in the Spokane area, you are probably already dead.

 

[VanceInWA]

45 minutes to Seattle? You must be joking (probably just trolling).

I sugget you check your Rand-McNally.

Additionally, if your health concerns are such that they cannot be adequately addressed in the Spokane area, you are probably already dead.

Yeah, that kinda made my eyebrows jump, too. But probably was thinking by life flight helicopter.

 

[Burt Gummer]

Unless people here are selling their current homes/properties at over-inflated bubble pricing, has anyone considered we are in a brutal housing bubble right now?

It has been climbing for ten years steady for I guess people ignore the inevitable bust.

When the housing market and SM ... well let's just say crash.... while inflation for staple goods goes ballistic; people will have to sell at again <2012 price levels.

I lease now which makes sense cause Gov lets me write off 65%. I'd be really gun shy about purchasing anything, anywhere right now in real estate/properties. Not some expert however so could be wrong. Homes could go up 10x next year for all I know.
The general US economy, despite BS media claims, is nose diving into the crapper. When that happens other bad things follow.

Except for travels, have pretty much lived in Portland my whole life and planned to die here. But the mandates and BS make life here more and more unbearable. I heard Rapid City ND is great. 75k people or so, but small town friendly.

Also considered Van Life. The happiest I ever was in life was living on the road in a VW windowed 60s van. But that was the 80s, and this is now.

 

[Cavedweller]

It has been climbing for ten years steady for I guess people ignore the inevitable bust.

There could be a bust coming, but maybe not. We keep letting more people in (LEGAL immigration of 1,000,000/yr) not to mention natural population growth and illegal immigration). At the same time, we have limited the amount of real estate available for development (state land use planning, urban growth boundaries, etc.) Where are people supposed to build houses? What's the solution? Stack 'em and pack 'em?

You want "affordable housing'? Repeal state land use planning. (Not gonna happen - EVER).

Wait till Agenda 2030 hits in full force. Good bye single family housing.

 

[Caveman Jim]

Unfortunately the left, after destroying their own towns, are on the lookout for new places to destroy. Not really sure there is an answer to this problem other than safety in numbers. I'm thinking Tennessee or Kentucky.

They are necromancers, destroying everything they touch.
I'm headed to north central Arkansas, the Ozarks.
Many of you know how hard I've been fighting this encroachment for many years but I just cannot do it anymore health wise. I'm done, Sorry.

 

[Siglvr]

Unless people here are selling their current homes/properties at over-inflated bubble pricing, has anyone considered we are in a brutal housing bubble right now?

We are. Homes are extremely overpriced. In fact, when you see (just look upthread a few posts) people all but panicking to get IN, then it's usually the time to get out. Unfortunately, we have conflicting things occurring, so who can predict, as you say Bert. On the one hand, we have Blackrock Investments buying up residential real property as if there will be none left. They are as connected as anyone in the world. On the other hand, you have the fed talking about raising interest rats which has always reduced the affordability of housing and lowered the cost of homes.

I have no idea where it is heading, but wish you well in your retirement search expert308! Let us know what you find.

 

[Nick Burkhardt]

Unless people here are selling their current homes/properties at over-inflated bubble pricing, has anyone considered we are in a brutal housing bubble right now?

It has been climbing for ten years steady for I guess people ignore the inevitable bust.

When the housing market and SM ... well let's just say crash.... while inflation for staple goods goes ballistic; people will have to sell at again <2012 price levels.

I lease now which makes sense cause Gov lets me write off 65%. I'd be really gun shy about purchasing anything, anywhere right now in real estate/properties. Not some expert however so could be wrong. Homes could go up 10x next year for all I know.
The general US economy, despite BS media claims, is nose diving into the crapper. When that happens other bad things follow.

Except for travels, have pretty much lived in Portland my whole life and planned to die here. But the mandates and BS make life here more and more unbearable. I heard Rapid City ND is great. 75k people or so, but small town friendly.

Also considered Van Life. The happiest I ever was in life was living on the road in a VW windowed 60s van. But that was the 80s, and this is now.

I do not think it is going to bust and nose dive like in 2009, because there are so many new dollars in circulation right now. Interest rates will rise and that will reduce peoples purchase power so housing prices will pull back a little. The lack of affordability and the fact that so many people are comfortable with very low interest rate mortgages means that existing homeowner will not be motivated to sell and take on a higher rate loan. If you do end up selling, you will be one of the very few.

 

[2506]

45 minutes to Seattle? You must be joking (probably just trolling).

I sugget you check your Rand-McNally.

Additionally, if your health concerns are such that they cannot be adequately addressed in the Spokane area, you are probably already dead.

There's these things called airplanes. They've been around for a while, you may want to check them out.

 

[308]

I'm not sure I agree that the inflated housing market has to do with speculation, but rather an issue with supply and demand combined with the fact Oregonians, Washingtonians, and Commiefornicators have been selling their properties at a substantial gain, then coming to Idaho and paying cash for new homes with 2000ft2 garages with RV bays and other existing properties.

12 years ago my sister had a 5-acre place with a decent house and horse stables purchased for ~$180k. Now that same place would go for $650k easy.

That pattern is easy to see by looking at realtor.com and you will find an abundance of greed and insanity….like $450k or more for a crap plot of dirt with a 25 yr old manufactured home with debris scattered all over….why? Because the transplants don't care; they have the $$ to tear it down and rebuild.

The sad part is the locals cannot afford this and rent is skyrocketing…..but the kindly developers have an answer….they are building entire neighborhood communities catering to "rent only" customers.

There are place to go, but most folks won't be able to live there when it's 2-hrs to a major grocery store or a Home Depot.

Rant over…lol

 

[VanceInWA]

I'm not sure I agree that the inflated housing market has to do with speculation, but rather an issue with supply and demand combined with the fact Oregonians, Washingtonians, and Commiefornicators have been selling their properties at a substantial gain, then coming to Idaho and paying cash for new homes with 2000ft2 garages with RV bays and other existing properties.

12 years ago my sister had a 5-acre place with a decent house and horse stables purchased for ~$180k. Now that same place would go for $650k easy.

That pattern is easy to see by looking at realtor.com and you will find an abundance of greed and insanity….like $450k or more for a crap plot of dirt with a 25 yr old manufactured home with debris scattered all over….why? Because the transplants don't care; they have the $$ to tear it down and rebuild.

The sad part is the locals cannot afford this and rent is skyrocketing…..but the kindly developers have an answer….they are building entire neighborhood communities catering to "rent only" customers.

There are place to go, but most folks won't be able to live there when it's 2-hrs to a major grocery store or a Home Depot.

Rant over…lol

From an economics perspective I would normally agree that supply would be a significant driver of cost increases, but in the case of Idaho (specifically Boise and environs) that may not be as relevant. The supply of housing in Boise has been absolutely booming for years, and to their credit the city/state have been investing heavily in transportation infrastructure to match the booming population; this explains why commute times in Boise, despite being one of the most rapidly growing population centers in the nation, are still paltry compared to the ridiculous traffic shambles in Portland and the daily traffic nightmare called Seattle. So while supply is undoubtedly having some impacts, the demand side appears ("appears" means it is just my impression, not borne of statistical analysis) to be the primary driver of cost increases, at least in the Boise metropolitan area. And while a lot of that demand is coming from Californicators, with another good portion coming from Washington and, to a lesser extent, Oregon, the vast majority of influx into the Boise area is actually coming from within the state of Idaho; i.e., intrastate relocations. That is based on Census Bureau data, which is not precise, but indicative. For exact statistics, the Idaho Transportation Department should be tracking the surrender of driver licenses by county (both in state and out of state), but unfortunately I was unable to locate that data online. Perhaps there is someone else here on NWFA who can locate that exact data on a per-county basis for Idaho.

 

[Nick Burkhardt]

Over 40% of all US Dollars in existence were printed since 2020. A larger money supply means that each individual dollar buys less than what it did before the pandemic money printing. We see this every time we go to the store. Based on the number of new dollars alone, a cart of groceries that cost $100 before the pandemic now costs $166.67. Add in the shortages due to supply chain problems and the total price you pay has been bid up to even more.

Housing prices are not going to nose dive because there are still too many dollars out there chasing too few goods.

The problem with estimating value in Idaho, is that Idaho is what they call a "Non-disclosure" State where the sales price of real estate does not get listed on the deed. Zillow used to display the listing price history of each property, but stopped that last year.

 

[2506]

Over 40% of all US Dollars in existence were printed since 2020. A larger money supply means that each individual dollar buys less than what it did before the pandemic money printing. We see this every time we go to the store. Based on the number of new dollars alone, a cart of groceries that cost $100 before the pandemic now costs $166.67. Add in the shortages due to supply chain problems and the total price you pay has been bid up to even more.

Housing prices are not going to nose dive because there are still too many dollars out there chasing too few goods.

The problem with estimating value in Idaho, is that Idaho is what they call a "Non-disclosure" State where the sales price of real estate does not get listed on the deed. Zillow used to display the listing price history of each property, but stopped that last year.

Did you find these data already? Apologies if you did. https://apps.itd.idaho.gov/apps/fund/reg/intrastate10yrcomp_cy15.pdf

 

[2506]

Over 40% of all US Dollars in existence were printed since 2020. A larger money supply means that each individual dollar buys less than what it did before the pandemic money printing. We see this every time we go to the store. Based on the number of new dollars alone, a cart of groceries that cost $100 before the pandemic now costs $166.67. Add in the shortages due to supply chain problems and the total price you pay has been bid up to even more.

Housing prices are not going to nose dive because there are still too many dollars out there chasing too few goods.

The problem with estimating value in Idaho, is that Idaho is what they call a "Non-disclosure" State where the sales price of real estate does not get listed on the deed. Zillow used to display the listing price history of each property, but stopped that last year.

And every time The Fed hints at an interest rate hike, panic buying or folks on the fence only make it worse.

 

[Nick Burkhardt]

Did you find these data already? Apologies if you did. https://apps.itd.idaho.gov/apps/fund/reg/intrastate10yrcomp_cy15.pdf

I am looking for sold prices, which are not public data.