HOUSING: Inflation blames goes to Joe
A lot has been said about how we can get affordable housing which of course would tie into affordable rentals. It’s certainly a fine and noble endeavor. The American dream has always been to own our own homes, raise our families in safe neighborhoods, barbecue in our backyards with relatives and friends — a place to call our own after a hard day’s work.
Ever since the beginning of America as we’ve known it, if we worked hard and planned wisely, home ownership was just a part of life — it was achievable for most everyone. Not anymore. What happened!?
Greedy developers? Nope. They take huge risks and are entitled to fair profits. High interest rates? Nope. Back as long as I can remember, interest was mostly in the 5-8% range. The COVID pandemic created 2-3% loans, probably never to happen again. So why is the average home price in Kootenai County around $450,000?
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