Posted April 10, 2020 10:37:03 Boise, the capital of Idaho, is the first major U.S. city in which home sales and prices have risen by nearly 40 percent in the past decade.
Its price is up about 60 percent over the past five years.
What’s more, home sales are up across the metro area.
The city’s real estate market has been especially active since Donald Trump was elected to the White House.
But for many locals, it’s a little too soon to say how much of the increase in home prices and sales is a result of the new administration.
For many of those locals, the rise in home sales is also a result not of the president but rather of changes in state and federal tax laws.
“It’s the Trump tax,” said Chris Barger, president of Barger Real Estate Services, a Boise-based real estate firm.
Trump’s tax plan would slash tax rates on individuals, companies and the wealthy.
He’s also pushing to abolish the estate tax and eliminate the alternative minimum tax, which allows wealthy people to pay less tax.
While the president has not made it clear what he plans to do about the tax changes, he has said he wants to see more people working and spending money, including more capital investment.
The first thing that comes to mind when you think of the Trump era is, ‘We are going to have the greatest boom in real estate ever, and we are going get away with it,’ Barger said.
Barger says the city is doing well, especially in the first quarter of this year.
He expects the real estate industry to see growth in the second half of the year, and expects prices to keep rising for a few more months.
Barger is optimistic about a rebound in the housing market.
Real estate has been the main driver of Boise’s economy.
He said the city’s population grew by about 3.5 percent during the first five months of the decade.
In the last five years, Boise has seen an average of more than 5,000 new jobs, he said.
Some of the fastest growth has been in the downtown area, where more than 400 new apartments have been added since Trump was inaugurated.
But Barger also noted that the number of homes sold in the metro is a little lower than it used to be.
Bogart’s firm is currently the only firm in Boise that is able to make an informed estimate of sales growth.
It has the resources to conduct an independent analysis, but it also relies on the help of several sources of information.
The company also uses the city to help it get the data it needs.
Boulder is a very urban area, with a lot of small, suburban-style neighborhoods that are close to downtown and the airport.
Bagley’s realtors and sales agents have had a tough time keeping pace with the rising interest in Boise.
One of the reasons is the state’s sales tax on houses is very high.
Barger estimates that Boise’s sales taxes have increased by more than 60 percent in recent years.
The city’s sales-tax rate is about 25 percent, but that rate is set to go up to 25 percent on Jan. 1.
The higher the rate, the more expensive houses are.
Bager also notes that the city also has a lot more vacant lots, and that it takes a long time for new construction to start in Boise because the city limits what projects can go forward.
“People want to move to Boise,” Barger explained.
Another factor driving up home prices is the increase of renters, who are spending more money to buy a home.
The number of new rentals in Boise has been rising since the recession, Barger noted.
As for how much the price of homes are going up, Bager estimates that in the city, it will take about five years for the price to drop.
That’s why Barger is hoping the new tax changes will help slow the housing price bubble.
For the past few years, the realtor has been selling for $400,000 to $500,000.
Bicker says the average price for a new home in Boise is $1 million, and a new house can cost as much as $10 million.