BOISE Real Estate 2021: America's Biggest Housing Bubble?

Boise's Real Estate and Housing Market is out of control! Home prices have increased by 35% year in 2021 and over 100% since 2016! Home buyers and real estate investors are both getting priced out of the market. The only question is: when will the Boise, Idaho Housing Bubble finally crash? The typical price of a home in Boise was $215k back in 2016 according to Zillow. Fast forward to April 2021 and that figure has more than doubled to $440k. Boise's 105% appreciation in that span is by far the highest of any city in America - almost 3x the national average. Other markets in Idaho - Coeur d'Alene and Idaho Falls - are also experiencing significant appreciation. Prices in these cities have increased by 80% over the last five years, among the highest in the country. Why are the Boise, Coeur d'Alene, and Idaho Falls real estate markets appreciating so much? Well, the city does have a lot of legitimate economic growth and inward migration. A growing economy and more people moving to a city puts upward pressure on prices. However, Boise is also experiencing a large amount of speculation, especially from California investors. This speculation is pushing prices out of reach for locals, who still earn fairly low wages according to data from the Bureau of Labor Statistics. Boise's Value / Earnings Ratio - the ratio of home prices to annual wages in the market - has spiked to 9.2. This is well above the previous high Boise experiencing before the last Housing Crash and makes the market look like a Bubble in 2021. The highest rates of appreciation in Boise are occurring in cities such as Meridian, Nampa, and Caldwell. These cities have experienced home price growth of over 120% in the last five years. Unfortunately, these areas have lots of vacant land, meaning that huge levels of new supply will be delivered in the future. This higher supply increases the risks for these cities in a housing crash. Best v. Worst Real Estate Cities:    • 2021 Housing Crash:  BEST v WORST Cities f...   Want to become a Real Estate Expert? Submit a contact form on Reventure Consulting's website to learn about our 1-on-1 coaching program. https://reventureconsulting.com/conta... If you would like daily content on real estate, follow us on Instagram.   / reventure_consulting   DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting, LLC does not establish a formal business relationship. 0:00 Boise: The #1 Growth Market! 1:55 Why is Boise so Hot? 3:12 Home Price Growth Map 5:32 Boise = the #1 Bubble? 9:13 Migration and Population Growth 12:02 Warning Signs 14:19 Value / Earnings Spike! 17:02 Best Areas in Boise to Buy? 18:59 High Growth Locations! 20:44 Open Space and Supply Competition 23:48 40% Declines in Prices? 25:33 1-on-1 Coaching with Reventure