Why These Three Idaho Cities are the most overvalued home markets in America
Idaho was the king of the housing market last year. The Gem State was the fastest-growing state in the country. As we covered here, this Idaho city saw the fastest job growth in the country. Can the continued wave of rising home values continue? Or will the Gem State fall victim to what national real estate experts expect to be a fall of Idaho home prices? You can read the latest prediction from one of the country's most reputable experts here.
9 Reasons Why Idaho Will See a Real Estate Crash
Idaho now has the top three most overvalued home markets in the country, reports Axios. We have reported on two of those markets, Boise and Coeur d'Alene. Now Idaho Falls joins the club at number three.
We attempted to find some documentation on why Idaho Falls is now in the top three. We have heard rumors that folks that cannot afford to live in the exclusive Jackson Hole, Wyoming market are looking at the more affordable Idaho border markets. On another note, one of America's age cohorts is finding a home in Boise.
AZbigmedia.com reports that Boise is the fifth most popular market for Generation Xers. The age group is from 41 to 56 and was America's first latch key generation. The Greenbelt and the access to outdoor activities are a few reasons why Idaho's capital city is so famous with Gen Xers.
There are a few factors that could inhibit Idaho's continued growth. The Fed is rumored to raise rates in hopes of curbing Biden's inflation and the rising cost of everything. One aspect of Idaho is its large geography and diverse nature. Do the three overvalued cities have anything in common other than there all in Idaho?