What is going on in Idaho?

[next61]

http://www.theolympian.com/130/story/104475.html

So many homes for sale?
"Ada County saw a 1.3 percent drop in median home prices in March, the first decline in 10 months.

The current situation is good for buyers, not so good for sellers."
I see good farming land littered with "white elephants" or cookie cutter developments and my heart is broken. Probably this should be in GC.....

[chamoisee]

Land is still amazingly expensive up here in Bonner county. I would love to have even a single acre of land with a trailer on it...can't afford to.

I saw an ad at the grocery store yesterday, I think it was for 10 acres with a shop and utilities, no house. $250 K.

[suburbanite]

I have little sympathy for people who bought as speculators rather than investors, which I think characterizes the folk driving this downturn.

Speculators buy a house for its resale value only. Investors buy a house to own it and produce an income stream via renting it out, with the resale value being a bonus to the cash flow. Homeowners buy a house to live in it.