Why Are Home Prices So High In Coeur D’alene, Id When The Average Income Is $10 Per Hour.?
The employment market just doesn’t warrant cost of homes in North Idaho at all. Newer stick built homes are in the 190 to 225,000 range for less then 1500 square feet. Las Vegas had better quality, more square footage during their boom when employment and wages were at their peak and the average couple earned 80,000 + not 30,000 like I see in Idaho.
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Bill
Jul 14, 2009
Sorry to say, housing values are related to what the propery is worth and not employment market.
ucommons
Jul 15, 2009
That’s a steal! That would cost you more the 400K in Chicago and forgot about California or New York – you’re talking 750K to over 1 million. I have seen 1 bedroom 600 sq ft places in NY for over 1 Mil!
But then again again you’re in ID. Not sure who would want to live in ID, I guess if you like potatos….=P jk
I think houses everywhere have gone up. but 200k for house was what it cost in Cool Places 10 years ago. I guess you have to move to uncool places to afford a house today.
wilbedoc
Jul 15, 2009
I’m from ID and I live in CA now, but plan on going back. I’ve noticed the high prices too…here’s my idea. I think that too many people from large urban areas like Vegas and CA are moving to ID to retire. Because we made more money were we came from we can afford to buy higher priced homes in ID. The result, we drive up the prices for what people are willing to spend on homes. And, people who are selling won’t take anything less than the percieved value of their property. Regardless of the fact that people who live and work in ID don’t make enough to pay for homes at those prices!!