The housing correction, which is helping to lower prices for homes in urban areas, has commuters smiling!
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Dear BuildingCredibility.com reader:
If you think the bursting nationwide housing bubble is a disaster, then think again. A seller's loss is a buyer's gain. Many urban areas with strong housing markets have become un-affordable to ordinary working people. Many workers in stores and restaurants now endure major commutes to remote suburbs to find affordable housing. Even I have several clients who have bought homes in the Fruitland/Payette area (about 45-60 minute commute from Boise) because property has been more affordable there. The current housing market is making people like them smile!
There are many people in this group I have served, but teachers, police officers, and nurses are the ones who have called me back to look at buying closer to work. These clients currently live long distances from the areas they serve, simply because they cannot afford homes in the urban areas where they work. Couple this with the skyrocketing cost of gasoline, these people are feeling increasing pressure in their checkbooks each month.
This housing slump, er, correction, is great for them! Not only will they potentially be able to afford a home closer to their place of work, but less pollutants will be emitted into the air (I'm not an environmental scientist, but my theory is that a shorter commute should mean less emissions).
My point...let's get out of the way and let the market correct. This correction is not all bad when you stop and look at it from my client's perspectives.
If you have additional questions about housing prices in the Boise area, or would like to discuss this blog further, feel free to call or email me at (208) 880-0316 and eric@ericsloans.com. You can also visit my website at http://www.ericsloans.com.
Regards,