Boise Idaho Real Estate Tips
Interested in Buying or Selling in the Boise Area? Find Real Estate Tips Here.Archive for economy
Boise Foreclosures
As 2009 reaches its half way mark there doesn’t seem to be much relief on the foreclosure front. In fact things appear to be getting worse. There are over 300 homes that are Boise foreclosures or 1 out of every 384 homes according to RealtyTrac.
In the Boise area we are hitting an 8% unemployment rate and news of Micron and other local business is not that promising. Could it really get much worse? Well the word on the street is YES, it will get much worse. We could expect to see rates double what they are now…
Currently the NAR says there is over 10 months worth of housing inventory on the market and that is likely to increase as we wrap up summer.
For those 92% out there that are employed it might be a good idea to spend, spend, spend… 
Real Estate Crisis
The economy has been scraping along for over a year now. We have seen the effects of the subprime loans on the housing market and everyone has been waiting, hoping, to find the bottom with hopes of recovering. Yet again we get bad news, news that says the subprime issue will be light compared to what is about to come. Apparently millions of adjustable rate mortgages are about to change and the foreclosure rate is getting ready to spike again. Top that with high unemployment nationwide you are looking at a continuing the housing crisis for many more months. China isn’t going to lend us billions of more dollars and we would be crazy to take it. You would think the people running our country could see these types of things happening and be a bit proactive… I am sure all this falls into somebodies master plan. The rich get richer while the poor get poorer.
Brushing Up on Management
Just a quick note on the economy and where it is going to be heading. If you are looking for information on management and employment you can find some great resources on the web but I think for the most part we can expect to see an umemployment rate over 14% by the end of the year, it could be even higher according to information released about the Bilderberg Group. There is speculation that we may experience a major depression so if you have work, keep it and do the best you can and be Grateful!
Florida Prisons
Okay, what does Florida have to do with Idaho? Nothing! But a story was released about how the Florida prison are having to cut back on the food they serve to inmates to cut costs and as I read I was astonished by the inhumanity they were having to endure…
Corn bread replaces sliced bread at some meals. Inmates will get one sweetener packet instead of four. In the Sunshine State’s prisons, orange juice is made from concentrate.
“It’s all right, but 100 percent juice is better,” said Charles Christian, 24, six months into a two-year term at Madison for drug and weapon offenses. “Sometimes it’s all right – like the peanut butter. They give you enough, but it’s hard to eat, it’s so thick. And they don’t give you enough meat.”
Sounds like my house. I have nothing against people who make mistakes and are looking for a fresh start but I can’t believe this is even news worthy. With the unemployment rate heading toward 8% I hope we take care of those folks with thick peanut butter and orange juice from concentrate.
Falling Gas Prices
It is hard to forget the days where gas seemed to be skyrocketing to over $4 a gallon. I was never big on wasting time and gas driving around but at that price I made sure I cut back my driving and even changed my driving habits a bit to save money, fuel, and time.
Now with fuel under $2, the last tank I got I spent $1.51 per gallon for regular. I must say it was sure nice to fill up the tank with $20 rather than $55. We know this won’t last but it is sure nice to save money somewhere. Currently we are in a demand driven market when it comes to oil and if we can take it easy on our fuel consumption and continue to monitor our driving then maybe we can maintain low prices.
A recent article states that the nation has cut back its fuel consumption by 1.1 million barrels per day, we have not seen rates lie that since 1980. That is a good thing for everyone and the environment.
I expect prices may fall a bit further… My guess is they will go to $1.25!
Does anyone else want to go on record with their predictions??
Boise Foreclosures
It looks like the foreclosures are decreasing in the Boise area but this is likely due to the fact that the government has asked lenders like Fannie Mae and Freddie Mac to hold off until next year. On the flip side if you are an investor os someone with cash you can most likely get a pretty good deal right now by finding a short sale. This is a good way to help out someone who owes more on their home than what the current market value is.
If you read the newspaper these days don’t expect anything good anytime soon. Sure gas prices may be low but more than a million jobs have been lost this year so far and it is going to continue. This means less people with money to support the economy while the banks and big business get to hold on to what they got the american people start suffer even more.
