Such a family may be able to lease a home where the rent is at, or below, $900/mo. The same family could afford to purchase a home worth ~$145K, if they only put 3-4% as a downpayment – or as much as ~$180K if they put down a minimum of 20% of the purchase price (thereby avoiding the mortgage insurance payment). There aren’t too many of these prices around these days (even with the housing slump).

Truly unfortunately, if it takes as long as 10-15 years to rebuild the demand for housing in the Valley – we will all become renters.

As of the news out of China this morning, Curious George toys have been recalled due to lead paint contamination – it was only a matter of time.

EDITOR NOTE–George, my point is not about specific dollars. My point is whatever the number, whatever the location, it is the “affordable housing” threshold that influences the market prices.

But on the flip side if a city isn’t growing it’s dying. Which is the lesser evil? There isn’t much any city/county government can do now with growth/economy except watch it crumble while they are in office. The damage was done in 2003-04 when no regulations on growth were in place. All we can do is prepare now for the next real estate rush 10-15 years from now.

City planners should have a comprehensive plan for zoning and adhere to it. The changes I would make here is to have developers/builders make homes based upon percentages of income for the area in which they want to build.

ie: (all numbers were made up) South Boise has 40% of the population that make say $40k per year or less, 30% that make $40-75k and 30% that make more than $75k. The homes built in the new development should be in that proportion too. That way everyone can have a chance to own a home and the builders can still make a variety of homes and still make some of the money that they deserve for their work.

2008 will be a very telling year for the residential house market. It won’t matter who is in office. Don’t be surprised when there are only a handful of mortgage companies and realtors left in the area. Not to mention banks that will quit lending on real estate in the area. It will hurt. We cannot have a large wave in the economy without having the trough associated with it. 2008-09 will be the bottom.

EDITOR NOTE–Afraid that social engineering plan just won’t fly. Truth is, people who don’t make a lot of money don’t deserve big homes. They don’t deserve nice cars. The money lenders have “qualified” just about everyone and encoumbered their homes, cars, etc. Houses have doubled in size and luxury. If low income housing was capped at at $75,000 the houses would be smalled. If it is capped at $180,000 the houses are bigger. “Affordable” in in the eye of the government guarantee.

The Republican economy is working well right now to slow the growth but you can bet they will stoke the economy fires with another interest rate cut and flood the market again, with inflated dollars. The banks will figure out acceptable ponzi style loans after the tax payers bail them out again. I find it absolutely remarkable how politicians think that it’s ok to let greed regulate itself. Must explain the moron part of oxymoron.

The Guardian should do a little expose’ on who and what is driving the process (no doubt you will come upwith some high rolling developers who certainly have the almighty dollar as first priority).

Eagle wants to annex property in the foothills so they can “guide” developement somewhat (I’m not sure how effective that might be. As a prime example look at the entrance to Avimor—-a turnout lane when in Dec 06 ITD recommendation was an overpass.) Sad that ITD caved in—-could the Guardian do an investigation into THAT fiasco? ITD states this is “temporary” but the mammonth pillars they have constructed at the entrance certainly precludes an overpass there doesn’t it?

Until water,school,and road issues are addressed they should stop development in the foothills.
The vote in Eagle was antigrowth but I think it was misplaced—-the real villain here is Ada County. Rick Yzzaguire and the Boys should be held to the fire and get control of the problem.

California taxes developers per sq ft of deveopment (called Mellaroos Tax) and this is passed (of course) onto the buyer—it’s a way of paying for infrastructure—-Idaho needs to pass this law.

Here’s a start. Vapor recovery fuel systems on gas pumps. Emission inspections for Canyon County. Close the loophole for emission standards on light trucks and SUVs. These are proven ideas that are less costly to implement than draconian land use policy and they are the domain of the state and federal governments.

This is an excellent time to take a deep breath and look closely at development, city planning and zoning regulations and comprehensive plans. A close reading of what is already in place may reveal that more could be done to direct development, alleviate congestion, improve safety and quality of life without changing ordinances, rules or regulations.

My own belief is that local governments should not roll over every time someone wants a zone change. Any landowner has the right to make improvements, cultivate, manage and enjoy the land as it is now zoned. No one needs a zone change just because he or she wants it.

Also, not much can be divined from rough election results. Clearly, people in Eagle aren’t happy with the direction of growth there, even if they live there because of it. But do they want to stop all growth? Do they want to limit it somehow? Do they want to change its manner or style?

Us local yokles think it’s expensive because we have never experienced real living wages. As long as our Republican Legislature continues to prevent local option taxing and impact fees for developers and mayors and city councils keep up the blame game we are going to continue to get more of the same.

Dang maybe Eagle is smarter than other area’s that don’t want to control the runaway growth.

If this housing slump continues for long the developers might want to reconsider before they get too much money invested that could be a very long time being repaid.

Earlier this fall a couple of young men decided to do the old “flip” game and bought an older home on the golf course, modernized it, I guess, and now are just waiting for a buyer, along with five or six other properties on the same section of the golf course, one of which has been for sale for at least two years.

One has to wonder about the hundreds of homes proposed for Avimor – where will those buyers come from?

By the way, why does a Statesman reporter in today’s paper, state that Avimor is near Star? What?