Navigating the Real Estate Price Dilemma, by Jonathan Rawles
One of the largest obstacles to relocation is the high prices of land and homes in desirable retreat areas. With mortgage rates rising, but prices still high, affordability is taking another hit. As a brief example, a recent search on Zillow for homes in Boundary County, Idaho with the criteria of 2,000 square feet and 20 acres returned only four results, starting with a rustic off-grid cabin at $850,000. There are many factors playing into this, including a limited supply, high demand, and a skewed market. Rural areas hold only 20% of current housing supply and 10% of new builds. …