{"id":15768,"date":"2013-02-14T14:27:19","date_gmt":"2013-02-14T21:27:19","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=15768"},"modified":"2013-02-14T14:27:19","modified_gmt":"2013-02-14T21:27:19","slug":"how-investor-buyers-shaped-one-boise-housing-development-hit-hard-in-the-downturn","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2013\/02\/14\/how-investor-buyers-shaped-one-boise-housing-development-hit-hard-in-the-downturn\/","title":{"rendered":"How Investor-Buyers Shaped One Boise Housing Development Hit Hard In The Downturn"},"content":{"rendered":"<div id=\"attachment_15742\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"A &quot;For Rent&quot; sign stood in front of a home in Charter Pointe last week.\" href=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2013\/02\/IMG_1399.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-15742\" title=\"Charter Pointe rental\" src=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2013\/02\/IMG_1399-300x171.jpg\" alt=\"\" width=\"300\" height=\"171\" srcset=\"https:\/\/stateimpact.npr.org\/idaho\/files\/2013\/02\/IMG_1399-300x171.jpg 300w, https:\/\/stateimpact.npr.org\/idaho\/files\/2013\/02\/IMG_1399-620x353.jpg 620w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Molly Messick \/ StateImpact Idaho<\/p><p class=\"wp-caption-text\">A &quot;For Rent&quot; sign stood in front of a home in Charter Pointe last week.<\/p><\/div>\n<p>It&#8217;s clear that residential real estate investors played a role in the boom and bust in Idaho&#8217;s housing market. Realtors tell stories of receiving call after call from out-of-state speculators attracted by Idaho&#8217;s high growth rate and low cost of housing.<\/p>\n<p>Yesterday, we <a title=\"Boise\u2019s Housing Bust Leaves Unlikely Victims In A Neighborhood That Saw The Worst\" href=\"http:\/\/stateimpact.npr.org\/idaho\/2013\/02\/13\/boises-housing-bust-leaves-unlikely-victims-in-a-neighborhood-that-saw-the-worst\/\">reported<\/a> on a southwest Boise subdivision called Charter Pointe that&#8217;s still reeling from the bust, three years after foreclosures peaked in the Boise area.<\/p>\n<p>We mentioned in <a title=\"Boise\u2019s Housing Bust Leaves Unlikely Victims In A Neighborhood That Saw The Worst\" href=\"http:\/\/stateimpact.npr.org\/idaho\/2013\/02\/13\/boises-housing-bust-leaves-unlikely-victims-in-a-neighborhood-that-saw-the-worst\/\">that piece<\/a> that in 2005, the development&#8217;s first full year of existence, more than a third of the homes in Charter Pointe were owned by people who didn&#8217;t live there.<!--more--><\/p>\n<p>Where did those investors come from? Thanks to data from the Ada County Assessor&#8217;s office, we can answer that.<\/p>\n<p>They came from 28 states, including Idaho, but most came from California.\u00a0 In 2005, out of 134 homes in Charter Pointe that weren&#8217;t owner-occupied, 71 were owned by people living in California. Idaho investors accounted for 37 of those non-owner-occupied homes. Next on the list is Arizona. Investors there held a comparatively paltry five homes in the subdivision.<\/p>\n<p>The rate of investor ownership in Charter Pointe declined as the recession took hold and the development expanded. Today, about a quarter of the homes in the development are owned by people who live out-of-state or elsewhere in Idaho. California continues to lead the pack. Investors there now own 104 out of Charter Pointe&#8217;s 927 residences.\u00a0 Idaho investors hold 79.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s clear that residential real estate investors played a role in the boom and bust in Idaho&#8217;s housing market. Realtors tell stories of receiving call after call from out-of-state speculators attracted by Idaho&#8217;s high growth rate and low cost of housing. Yesterday, we reported on a southwest Boise subdivision called Charter Pointe that&#8217;s still reeling [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":15742,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[40,46,47],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/15768"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/comments?post=15768"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/15768\/revisions"}],"predecessor-version":[{"id":15775,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/15768\/revisions\/15775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media\/15742"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=15768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=15768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=15768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}