Home prices across the country are 7-8 times annual earnings versus a 3x historic multiple. It's simply not sustainable. Reversion to mean is inevitable, just the timing is questionable. Check out the links I posted. Both are very interesting.
My experience in real estate is that somehow smart people become stupid when they join NAR (National Assn Relators) And keep in mind that the NAR narrative only represents existing housing. In the Boise area, for eg, Toll Brothers was recently offering up to $75k in incentives to purchase some of their homes. Those incentives are not showing up in the appraisal values (which is another simmering problem that will eventually hit the real estate market). Builders don't offer incentives in booming markets.
Stay tuned for the FOMO moment when all of a sudden home owners/boomers with equity realize that they need to sell NOW, before everyone else does. Give that panic a year of two, then it might be time to buy.
Depends on the market. Prices definitely accelerated here, but there are still reasonably priced homes to be had if you are patient, not looking for all the bells and whistles, like walk in closets, master suites, etc. Biggest problem is competing with investors offering 'cash', no inspection, no appraisal. They've been 25% of the sales the last 3 years. What happens if they go belly up due to no more cheap money and all those homes get dumped on the market?
There is a company called True Hold who is buying a lot of airtime on local radio, offering to buy your house, take over maintenance, taxes and insurance, and rent your home back to you. Seems like a house of cards and sketchy as heck.
Nations around the world are tired of the economic terrorism that the US does to countries...sanctions galore...kicking Russia out of the SWIFT system.
We are going to have bigger problems than just the price of houses.
Sort of - but mostly because of supply/demand. There are a LOT of people coming in to Texas (and especially Austin) as their companies move here. So there's a shortage of affordable housing and prices have shot up for homes - 3-4x what they were back in 2019.
Same thing happening around Raleigh. Our house has nearly doubled in price in less than 3 years. New homes, smaller, less land, going up for twice what we paid for our house 20 years ago. It is insane and I don't know how anyone is affording it because it ain't like salaries have doubled. We lived in CA over 20 years ago and it feels like the CA real estate market has moved to Raleigh. I hate it. Unfortunately, I'm not in a position to move or I'd get the heck out.
My friend/neighbor moved up in 2020 to a bigger house to accommodate her mom and grandkids who stay over a lot. The single guy who bought their house has it back on the market. Only update/upgrade he did was added a backyard fence. (she went through it on an open house day) Asking $90K more than he bought it for in 2020! So not doubled, but still....has had 2 pending sales fall through though, so suspect a price drop may be coming.
Well and between materials costs, labor shortage, and massive over-regulation, there are few single family homes being developed, especially those in the 'affordable' range. I am in a suburb of KC and new homes are still being built, but they start at $500K, 2K+ sq ft and are crap builds. KC passed an ordinance slapping new green regs on development and has seen almost NO new SF home permits issued this year. In a city of 500K people! But every week a new apartment development is announced.
I will note, though, I knock a LOT of doors for candidates. The software is not all that accurate, but will give you the age and party of the resident (it's a guess, party registration is optional in MO) and I am constantly surprised how many people in their 70's, 80's and even 90's are still in their homes. These folks won't live forever, and a lot of homes will be coming on the market in the next decade as the boomers+ die off. Many of these homes are not updated/obvious maintenance issues and lack the amenities that too many want/expect today. So they will sell to investors who turn them into rentals.
We are in an HOA and saw this first hand - aging owners can't keep up, sell, but few takers for homes with shag carpet, yellow linoleum in the kitchen and flowered wallpaper, so investors buy them and rent them out. We voted to ban rentals going forward to stop this trend 2 years ago (but legally had to grandfather in existing ones) and are seeing some young families move in and renovate. My son and his wife started looking in 2020 and wanted 'move in ready' but reality set in and they bought a dated house with 'good bones' and are still working on it as cash allows, but took them 6 months to find something they could afford.
Agreed. Costs have gone through the roof and even with doing some of the work ourselves we have backed off plans for a kitchen reno as we don't do debt and can't cash flow it. The contractor who did our bathroom upgrades a decade ago had pivoted to almost all 'aging in place' projects but said that business is really slowing down.
Lots of older folks have out-of-pocket medicals bills to pay...Rx costs also.
Is a spouse in a nursing home? Are they saving their money to move into assisted living? Are they supporting deadbeat adult children? Are they taking care of grandkids? Have they decided not to spend $40,000 on a kitchen redo that they won't get many years to enjoy?
I was pretty annoyed at your original comment when you first wrote it. Probably because you used the term "boomer" which has turned into a pejorative.
And what is so wrong about an older person staying in their home? Lots of memories are embedded into homes. Baby's first walk. A child's first day of school. Proms and graduations. Why should an older person move into a soulless white box apartment? After all, they worked hard all those years to have a nice home to raise a family. Just because a house is outdated, doesn't mean it is not important to the person/s living there.
And maybe younger people need to lower their expectations. Unless they want to spend $700,000+ for a new build that has all the bells and whistles.
I am just thankful I have a roof over my head...in my outdated house that I grew up in. Lots of veterans are homeless and living on the street, so I thank God every day for what I do have.
Sorry! I did not mean to be pejorative. I am just saying the younger generation is bypassing these homes when they go on the market, opening the door to more investors moving in and turning more and more homes into rentals. Too many rentals in a neighborhood does depress property values as many investors just do the bare minimum, if that. Constant issues with the rentals in our neighborhood, dead trees, peeling paint, etc, and takes multiple letters and threats of fines to get landlords to take care of their properties. My son and his wife rented a home for 2 years in an adjacent suburb where the owners did NOTHING - tree damage from a storm sat for a month before my hubby and I came over with a chain saw and helped them clean it up as multiple calls to the landlord were ignored. Borrowed our ladder and cleaned out gutters as trees were growing in them, and so on.
My friend's dad passed away 2 years ago was still in the family home that she and her siblings had been helping him maintain (but no upgrades) and when they listed it, they said, no investors, we want to sell to a family. Offer after offer from investors and 2 private sales fell through and finally just wanted to be done and gave up. So, just saying mis-match between young buyers expectations and economic reality. They would rather rent than buy a fixer upper but then complain about how they can't afford a home. That is just MY market. I know hot markets are just insane period. A friend's daughter in Denver just bought a 900 sq ft fixer upper and paid twice what that would sell for here.
I just used the term boomer+ as a demographic term, not intending to be negative. In 2023, 51% of houses sold nationwide were sold by boomers or silent generation, and were only 38% of the buyers and that gap is only going to increase. My point was these homes WILL be on the market in the coming years and if younger buyers don't buy them, investors are going to accelerate their holdings. Sadly, the days of big extended family helping care for the older generation are dying. I spent the first 6 months of 2023 caring for my mom as she did not want to move out of her apartment she had lived in since my dad passed in 2014. Kept saying she just needed more time to recover from a leg injury but she could no longer get around well and had several falls with fortunately no broken bones, but she was not improving and her apt was not handicapped accessible for a wheelchair. Couldn’t move in with us as we have stairs, live in a split level.
So I 'get' wanting to stay in wherever it is you call home. But there is a tipping point somewhere. My sisters are on either coast. I could not work, self employed, save a small project here and there, I was sleeping on an air mattress most nights in her apartment and something had to give, we have bills too. If I don't work I don't get paid. So my perspective is colored by that, and have half a dozen friends in similar situations, spending alot of nights and weekends taking care of a parent(s) home as well as their own as they don't want to move.
Speaking for myself only, personally I am not handy at all and don’t like doing work like that either (partly because it doesn’t come easily to me and is thus very time consuming and fraught with do-overs). And I don’t have family or friends who could help me and/or teach me. I also homeschool my son and work part time (freelance) as well as take care of the household, cooking, etc. So I have a full plate as it is. My husband is more gifted as far as being handy goes, but he has two jobs and very little extra time. We have what was a new build when we bought it but now is almost two decades old. I’d like to make some improvements and updates now but will likely be paying someone else to do them, when we have the money. At least that helps give someone else a job! 😑😛
My husband is reasonably handy, but landscaping is my thing and I hate indoor projects. They take twice as long as you think, stuff goes wrong and hubby and I always end up in a big fight, as he is a 'good enough' guy and I am a if you're not going to do it right, don't do it at all. Just one example - No matter what we did, pulling off the old wallpaper left divits and dents all over the drywall in the LR and hallway He was like, just hang pictures over the bigger holes. I am like, no we need to sand it down and skim coat it. It was really noticeable in daylight and looked terrible. He said it looked 'fine' and painted the walls. Took 2 years to convince him to hire a drywall guy. Over 34 years it's been a see saw between DIY and outsource. Outsource is way more peaceful.
If I didn’t like the aesthetics, I would change it. Or if it looked worn I’d refresh it. Probably wouldn’t change anything just because I was bored with it though. Aesthetics are important to me, I like living in spaces I find pleasing to the eye. I know some people only care about functionality, but people are not all the same and don’t have to like or appreciate the same things 🤷♀️
Well, it is concerns about collapse, war and who knows what else that has led us to only spending on 'essentials' just in case. Neither of our incomes are what they were pre covid - husband is commission sales in a dying industry (he calls on retailers) and just hopes to ride it out until he turns 65 in 4 years and I am self employed and between all my political involvement and taking care of my mom I don't take on as many projects, and they are harder to come by anyway. So anything extra goes to savings.
My little town of Carson City is building 3-level homes with only the required 10 ft between them. These “communities” are popping up all over. One of these was supposed to be “low income” housing but the starting price is between $4-500,000 each. We can’t even afford that, not at the current interest rates. There are no new neighborhoods with large lots for a family being built. The single family homes being built don’t have much of a backyard and the neighbors are too dang close. Might as well live in an apartment.
yep, one developer proposed an 'affordable' development that would have trashed all of the codes for setbacks, yard size, parking, etc. Didn't pass as the surrounding neighborhoods raised h*ll saying this level of density would hurt property values, increase traffic, etc. Prices still exceeded 'affordable' - defined as the payments for a person making the county-wide median family income could not exceed 30% of income, and they were the same, 3 story, tall skinny homes with no basements and almost no yard, save a 'common area' green space. Funny, they said would appeal to seniors since the tiny yards would be easy to maintain, but my parents downsized due to trouble navigating the stairs when they were in their 70's. - how many seniors want all those stairs a 3 story home would have?!
We’ve got a new subdivision being built behind us with smaller lots (still ok sized but not as big as the ones where I live) and the builders and developers keep saying people don’t WANT large yards anymore because they don’t want to maintain them. I’m not sure I completely believe that though 😕
We lived in CC back in the late 80's early 90's. Was a lovely place then. My husband worked for a building company and they were busy at work building houses in Minden and Gardnerville. I said to him then, one day this whole valley will look like one big city.
All of the ranches between Mica and the Arco in Minden are still there. Walmart moved to the top of the “hill” with Target and Home Depot further down by Jacks Valley Rd. I came here in 1997 and immediately fell in love with it. We lived in Dayton for about 10 years. Boy has that town grown! There are now 2 stoplights! LOL. It’s gotten more expensive but still has that small town charm. We even have an Olive Garden! 😂
Yea, we are looking at adding a screened in porch (a nice one) and/or a master bedroom downstairs. It is going to cost more than we originally paid for the house so yes, prices for everything are UP.
Yes, our ancient dishwasher crapped out and we buy our appliances from a place that sells floor models, scratch and dent. etc. for about 30% less than typical retail. Bought one that was $150 less than Home Depot with a slight scratch on the door. Thought we got a deal. $265 for the plumber to install it, and $45 for our trash company to haul away the old one. EVERYTHING is expensive. Getting ready to replace the flooring in our basement and bracing ourselves for sticker shock.
Check out the link on Thoughtful Money. Here it is again: https://www.youtube.com/watch?v=QeupXD_HBZY Melody Wright combines data driven analysis, historic perspective and boots on the ground intelligence. Worth following her.
Both of my brothers are in Buda and my best friend is in Kyle. Years and years ago, these areas were rural. Now there isn’t much separating them. Same in the Boise area. There’s not a lot of distinction between Boise, Eagle, Meridian, Star, Nampa, and Caldwell. Middleton is a little “out of the way” but is also growing and merging with Star and Caldwell. It’s no longer affordable to people who have been there their entire lives. Wages aren’t keeping up, either.
Are home prices over valued in Austin?
Home prices across the country are 7-8 times annual earnings versus a 3x historic multiple. It's simply not sustainable. Reversion to mean is inevitable, just the timing is questionable. Check out the links I posted. Both are very interesting.
My experience in real estate is that somehow smart people become stupid when they join NAR (National Assn Relators) And keep in mind that the NAR narrative only represents existing housing. In the Boise area, for eg, Toll Brothers was recently offering up to $75k in incentives to purchase some of their homes. Those incentives are not showing up in the appraisal values (which is another simmering problem that will eventually hit the real estate market). Builders don't offer incentives in booming markets.
Stay tuned for the FOMO moment when all of a sudden home owners/boomers with equity realize that they need to sell NOW, before everyone else does. Give that panic a year of two, then it might be time to buy.
Depends on the market. Prices definitely accelerated here, but there are still reasonably priced homes to be had if you are patient, not looking for all the bells and whistles, like walk in closets, master suites, etc. Biggest problem is competing with investors offering 'cash', no inspection, no appraisal. They've been 25% of the sales the last 3 years. What happens if they go belly up due to no more cheap money and all those homes get dumped on the market?
There is a company called True Hold who is buying a lot of airtime on local radio, offering to buy your house, take over maintenance, taxes and insurance, and rent your home back to you. Seems like a house of cards and sketchy as heck.
USD is gonna collapse.
USD will no longer be the reserve currency.
Nations around the world are tired of the economic terrorism that the US does to countries...sanctions galore...kicking Russia out of the SWIFT system.
We are going to have bigger problems than just the price of houses.
Sort of - but mostly because of supply/demand. There are a LOT of people coming in to Texas (and especially Austin) as their companies move here. So there's a shortage of affordable housing and prices have shot up for homes - 3-4x what they were back in 2019.
Same thing happening around Raleigh. Our house has nearly doubled in price in less than 3 years. New homes, smaller, less land, going up for twice what we paid for our house 20 years ago. It is insane and I don't know how anyone is affording it because it ain't like salaries have doubled. We lived in CA over 20 years ago and it feels like the CA real estate market has moved to Raleigh. I hate it. Unfortunately, I'm not in a position to move or I'd get the heck out.
My friend/neighbor moved up in 2020 to a bigger house to accommodate her mom and grandkids who stay over a lot. The single guy who bought their house has it back on the market. Only update/upgrade he did was added a backyard fence. (she went through it on an open house day) Asking $90K more than he bought it for in 2020! So not doubled, but still....has had 2 pending sales fall through though, so suspect a price drop may be coming.
Well and between materials costs, labor shortage, and massive over-regulation, there are few single family homes being developed, especially those in the 'affordable' range. I am in a suburb of KC and new homes are still being built, but they start at $500K, 2K+ sq ft and are crap builds. KC passed an ordinance slapping new green regs on development and has seen almost NO new SF home permits issued this year. In a city of 500K people! But every week a new apartment development is announced.
I will note, though, I knock a LOT of doors for candidates. The software is not all that accurate, but will give you the age and party of the resident (it's a guess, party registration is optional in MO) and I am constantly surprised how many people in their 70's, 80's and even 90's are still in their homes. These folks won't live forever, and a lot of homes will be coming on the market in the next decade as the boomers+ die off. Many of these homes are not updated/obvious maintenance issues and lack the amenities that too many want/expect today. So they will sell to investors who turn them into rentals.
We are in an HOA and saw this first hand - aging owners can't keep up, sell, but few takers for homes with shag carpet, yellow linoleum in the kitchen and flowered wallpaper, so investors buy them and rent them out. We voted to ban rentals going forward to stop this trend 2 years ago (but legally had to grandfather in existing ones) and are seeing some young families move in and renovate. My son and his wife started looking in 2020 and wanted 'move in ready' but reality set in and they bought a dated house with 'good bones' and are still working on it as cash allows, but took them 6 months to find something they could afford.
The reason why some older homeowners do not do improvements is because they don't have the money.
Agreed. Costs have gone through the roof and even with doing some of the work ourselves we have backed off plans for a kitchen reno as we don't do debt and can't cash flow it. The contractor who did our bathroom upgrades a decade ago had pivoted to almost all 'aging in place' projects but said that business is really slowing down.
Lots of older folks have out-of-pocket medicals bills to pay...Rx costs also.
Is a spouse in a nursing home? Are they saving their money to move into assisted living? Are they supporting deadbeat adult children? Are they taking care of grandkids? Have they decided not to spend $40,000 on a kitchen redo that they won't get many years to enjoy?
I was pretty annoyed at your original comment when you first wrote it. Probably because you used the term "boomer" which has turned into a pejorative.
And what is so wrong about an older person staying in their home? Lots of memories are embedded into homes. Baby's first walk. A child's first day of school. Proms and graduations. Why should an older person move into a soulless white box apartment? After all, they worked hard all those years to have a nice home to raise a family. Just because a house is outdated, doesn't mean it is not important to the person/s living there.
And maybe younger people need to lower their expectations. Unless they want to spend $700,000+ for a new build that has all the bells and whistles.
I am just thankful I have a roof over my head...in my outdated house that I grew up in. Lots of veterans are homeless and living on the street, so I thank God every day for what I do have.
Sorry! I did not mean to be pejorative. I am just saying the younger generation is bypassing these homes when they go on the market, opening the door to more investors moving in and turning more and more homes into rentals. Too many rentals in a neighborhood does depress property values as many investors just do the bare minimum, if that. Constant issues with the rentals in our neighborhood, dead trees, peeling paint, etc, and takes multiple letters and threats of fines to get landlords to take care of their properties. My son and his wife rented a home for 2 years in an adjacent suburb where the owners did NOTHING - tree damage from a storm sat for a month before my hubby and I came over with a chain saw and helped them clean it up as multiple calls to the landlord were ignored. Borrowed our ladder and cleaned out gutters as trees were growing in them, and so on.
My friend's dad passed away 2 years ago was still in the family home that she and her siblings had been helping him maintain (but no upgrades) and when they listed it, they said, no investors, we want to sell to a family. Offer after offer from investors and 2 private sales fell through and finally just wanted to be done and gave up. So, just saying mis-match between young buyers expectations and economic reality. They would rather rent than buy a fixer upper but then complain about how they can't afford a home. That is just MY market. I know hot markets are just insane period. A friend's daughter in Denver just bought a 900 sq ft fixer upper and paid twice what that would sell for here.
I just used the term boomer+ as a demographic term, not intending to be negative. In 2023, 51% of houses sold nationwide were sold by boomers or silent generation, and were only 38% of the buyers and that gap is only going to increase. My point was these homes WILL be on the market in the coming years and if younger buyers don't buy them, investors are going to accelerate their holdings. Sadly, the days of big extended family helping care for the older generation are dying. I spent the first 6 months of 2023 caring for my mom as she did not want to move out of her apartment she had lived in since my dad passed in 2014. Kept saying she just needed more time to recover from a leg injury but she could no longer get around well and had several falls with fortunately no broken bones, but she was not improving and her apt was not handicapped accessible for a wheelchair. Couldn’t move in with us as we have stairs, live in a split level.
So I 'get' wanting to stay in wherever it is you call home. But there is a tipping point somewhere. My sisters are on either coast. I could not work, self employed, save a small project here and there, I was sleeping on an air mattress most nights in her apartment and something had to give, we have bills too. If I don't work I don't get paid. So my perspective is colored by that, and have half a dozen friends in similar situations, spending alot of nights and weekends taking care of a parent(s) home as well as their own as they don't want to move.
Why is it that younger people don't want to do updates on a house?
Not hard to pull up shag carpeting and refinish existing hardwood floors. Even I was able to it after a friend showed me how.
Speaking for myself only, personally I am not handy at all and don’t like doing work like that either (partly because it doesn’t come easily to me and is thus very time consuming and fraught with do-overs). And I don’t have family or friends who could help me and/or teach me. I also homeschool my son and work part time (freelance) as well as take care of the household, cooking, etc. So I have a full plate as it is. My husband is more gifted as far as being handy goes, but he has two jobs and very little extra time. We have what was a new build when we bought it but now is almost two decades old. I’d like to make some improvements and updates now but will likely be paying someone else to do them, when we have the money. At least that helps give someone else a job! 😑😛
My husband is reasonably handy, but landscaping is my thing and I hate indoor projects. They take twice as long as you think, stuff goes wrong and hubby and I always end up in a big fight, as he is a 'good enough' guy and I am a if you're not going to do it right, don't do it at all. Just one example - No matter what we did, pulling off the old wallpaper left divits and dents all over the drywall in the LR and hallway He was like, just hang pictures over the bigger holes. I am like, no we need to sand it down and skim coat it. It was really noticeable in daylight and looked terrible. He said it looked 'fine' and painted the walls. Took 2 years to convince him to hire a drywall guy. Over 34 years it's been a see saw between DIY and outsource. Outsource is way more peaceful.
Yes, all this!!!
I could never understand why a person would redo a perfectly functional kitchen because they felt it was out of style.
I have no problem with things that are still serviceable but would be considered "outdated" by some folks.
At this point, I am more concerned about the complete collapse of the US and possible entry into WW3.
If I didn’t like the aesthetics, I would change it. Or if it looked worn I’d refresh it. Probably wouldn’t change anything just because I was bored with it though. Aesthetics are important to me, I like living in spaces I find pleasing to the eye. I know some people only care about functionality, but people are not all the same and don’t have to like or appreciate the same things 🤷♀️
Well, it is concerns about collapse, war and who knows what else that has led us to only spending on 'essentials' just in case. Neither of our incomes are what they were pre covid - husband is commission sales in a dying industry (he calls on retailers) and just hopes to ride it out until he turns 65 in 4 years and I am self employed and between all my political involvement and taking care of my mom I don't take on as many projects, and they are harder to come by anyway. So anything extra goes to savings.
My little town of Carson City is building 3-level homes with only the required 10 ft between them. These “communities” are popping up all over. One of these was supposed to be “low income” housing but the starting price is between $4-500,000 each. We can’t even afford that, not at the current interest rates. There are no new neighborhoods with large lots for a family being built. The single family homes being built don’t have much of a backyard and the neighbors are too dang close. Might as well live in an apartment.
yep, one developer proposed an 'affordable' development that would have trashed all of the codes for setbacks, yard size, parking, etc. Didn't pass as the surrounding neighborhoods raised h*ll saying this level of density would hurt property values, increase traffic, etc. Prices still exceeded 'affordable' - defined as the payments for a person making the county-wide median family income could not exceed 30% of income, and they were the same, 3 story, tall skinny homes with no basements and almost no yard, save a 'common area' green space. Funny, they said would appeal to seniors since the tiny yards would be easy to maintain, but my parents downsized due to trouble navigating the stairs when they were in their 70's. - how many seniors want all those stairs a 3 story home would have?!
We’ve got a new subdivision being built behind us with smaller lots (still ok sized but not as big as the ones where I live) and the builders and developers keep saying people don’t WANT large yards anymore because they don’t want to maintain them. I’m not sure I completely believe that though 😕
Is that Carson City, Nevada?
Yes. I can’t get my best friend to move out here because they can’t afford to buy anything. Rents aren’t cheap either.
We lived in CC back in the late 80's early 90's. Was a lovely place then. My husband worked for a building company and they were busy at work building houses in Minden and Gardnerville. I said to him then, one day this whole valley will look like one big city.
All of the ranches between Mica and the Arco in Minden are still there. Walmart moved to the top of the “hill” with Target and Home Depot further down by Jacks Valley Rd. I came here in 1997 and immediately fell in love with it. We lived in Dayton for about 10 years. Boy has that town grown! There are now 2 stoplights! LOL. It’s gotten more expensive but still has that small town charm. We even have an Olive Garden! 😂
Yea, we are looking at adding a screened in porch (a nice one) and/or a master bedroom downstairs. It is going to cost more than we originally paid for the house so yes, prices for everything are UP.
Yes, our ancient dishwasher crapped out and we buy our appliances from a place that sells floor models, scratch and dent. etc. for about 30% less than typical retail. Bought one that was $150 less than Home Depot with a slight scratch on the door. Thought we got a deal. $265 for the plumber to install it, and $45 for our trash company to haul away the old one. EVERYTHING is expensive. Getting ready to replace the flooring in our basement and bracing ourselves for sticker shock.
Take a look. Present home prices in that city are insane.
Check out the link on Thoughtful Money. Here it is again: https://www.youtube.com/watch?v=QeupXD_HBZY Melody Wright combines data driven analysis, historic perspective and boots on the ground intelligence. Worth following her.
Also. https://www.youtube.com/watch?v=QeupXD_HBZY
https://www.youtube.com/watch?v=L9YsN6MP1_w&t=1069s. Follow anything Melody Wright does. She is terrific.
Both of my brothers are in Buda and my best friend is in Kyle. Years and years ago, these areas were rural. Now there isn’t much separating them. Same in the Boise area. There’s not a lot of distinction between Boise, Eagle, Meridian, Star, Nampa, and Caldwell. Middleton is a little “out of the way” but is also growing and merging with Star and Caldwell. It’s no longer affordable to people who have been there their entire lives. Wages aren’t keeping up, either.