Housing prices are outpacing wage growth in one of the fastest growing states in the country.
Betsy Russell reports for Boise Dev on the implications of recent data from the Idaho Department of Labor showing the two sides of Idaho's booming economy. On the one hand, wages in the state have grown between 25% and 32% since 2015. On the other, housing prices have increased 150% during that same time span.
Craig Shaul, research analyst supervisor for the Idaho Department of Labor, is cited for insight in the article. Shaul notes that Idaho’s housing prices are outpacing the national average. "And while Idaho’s economy is booming, Shaul said wage increases are expected to taper off over the next two years, raising questions about how Idaho will house its future workers," writes Russell.
According to the source article, linked below, the state's rising cost of housing is contributing to a labor shortage—some of which mirrors the trends around the country, but also includes a large number of retirees aging out of the labor force.
FULL STORY: Idaho incomes rise, but housing costs far outstrip them
The ‘Lock-In Effect’ Keeping Home Prices High
Housing prices dropped slightly last year, but first-time and middle-income buyers found little price relief due to the “lock-in effect” of the historically low interest rates in effect for more than a decade prior to 2022.
Price Cuts Spread to More of the U.S. Housing Market
The insanity of the housing market during the pandemic seems to have peaked in an increasing number of U.S. cities, according to recent data.
The Consequences of 'Runaway' Housing Prices
There's been no shortage of discussion and debate about what's causing the price of homes in the United States to skyrocket at record rates, but less discussion of the consequences for housing market trends on the broader economy.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
Mamdani overhauls NYC's Vision Zero plan with 100 new policy goals
The overhaul aims to reduce traffic deaths and make streets safer for pedestrians, cyclists and drivers through lower speed limits, new safety infrastructure and more.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association