The increase of interest rates depreciates the value of assets. Anything indexed to market prices was affected. The war happened and energy costs went up. The market struggled to get new and current products out for the needs of consumers. The pandemic changed people and what they bought- no travel or going out so spending patterns changed. Tight labor markets are a visceral experience-help wanted signs are everywhere. The “beige book” expressed the labor marker is coming back and wages are showing steady growth (4.2% yoy). Idaho is at 3.1% (we are in the middle as the 23rd ranked state). Debt burden is down since interest rates went so low and education loans were forgiven for long periods. Net worth rose again last quarter so people can keep spending. How? Large increases in net worth after pandemic due to increased values of homes, investments, equities, etc. #GDP-through inflation, consumers continuing to spend.We have tight #labormarkets and an overall lack of supply, while having underlying worries about the #nationaldeficit and war affect public psychology. The US is currently going through a transformation. We are in the 4th year of an economic upswing after covid.That was after a deep dive that I’ve summarized some of below. When put on the spot by my partner Chase Erkins, John noted that he believed we were more likely to have a #hardlanding than a #softlanding. It was an informative session listening to John Mitchell speak at the Hopkins Financial Services, Inc. Stay tuned for more updates on the growth and development happening in our beloved downtown Boise! □️□ #BoiseRealEstate #DowntownBoise #InvestmentOpportunitiesĭowntown Boise’s $340M transformation: ‘It’s just the beginning’ I know that the airbnb I bought is doing great! If you're considering investing in real estate, or have done so, near or around downtown Boise, the article suggests that its a great time to be a part of these exciting opportunities. In a few years, we'll have an even more bustling downtown filled with new community members and tourists, all contributing to the vibrancy of our city. The projects like Broadstone Saratoga, 12th and Idaho, Hotel Renegade, new bike paths, and The Sparrow, as detailed in the article, are just a glimpse of what's in store for our city. The growth in downtown Boise means increased demand for commercial spaces, both for businesses and residents. □ Investment Opportunities Abound: Due to the growth, opportunities are arising from this transformation. Together, they are working to address these challenges and ensure a seamless process for the continued future development. Props to the Downtown Boise Neighborhood Association facilitating collaboration among the city, property owners, and contractors. □ Short-Term Challenges, Long-Term Rewards: Yes, we can't ignore the short-term inconveniences caused by ongoing construction (I work DT, I know.). By doing away with mandatory parking requirements, the new zoning code encourages builders to bring creative ideas to life without excessive parking constraints. The focus is to make DT Boise more dense, vibrant, and pedestrian-friendly. □ A Vision for a Vibrant Downtown: The director of planning and development in Boise, Tim Keane, highlighted in the article below that Boise is at the cusp of a significant transformation. Over the next 12 to 15 months, we're witnessing the beginning of what promises to be a remarkable transformation. These projects, including hotels, mixed-use residential spaces, and streetscape enhancements, are set to redefine the downtown experience. □️ Obviously, Transformation is Currently Underway: Downtown Boise has been consistently abuzz with construction activity. □ Exciting Times for Downtown Boise Real Estate! □️ĭowntown Boise if flying, as discussed in a recent article below and it's an exciting time to be a part of this community! As a CRE Professional, Investor, and Resident, I am enthusiastic about what's on the horizon.
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