{"id":3743,"date":"2012-01-13T11:31:05","date_gmt":"2012-01-13T18:31:05","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=3743"},"modified":"2012-01-13T13:02:03","modified_gmt":"2012-01-13T20:02:03","slug":"boise-subdivisions-dressed-up-to-look-occupied-as-housing-market-faltered","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2012\/01\/13\/boise-subdivisions-dressed-up-to-look-occupied-as-housing-market-faltered\/","title":{"rendered":"Boise Subdivisions &#8220;Dressed Up to Look Occupied&#8221; as Housing Market Faltered"},"content":{"rendered":"<div id=\"attachment_3756\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"This foreclosed home in the Boise suburbs was put up for sale in September.\" href=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-3756\" title=\"Nampa Foreclosure\" src=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure-300x225.jpg 300w, https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure-220x165.jpg 220w, https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure-138x103.jpg 138w, https:\/\/stateimpact.npr.org\/idaho\/files\/2012\/01\/Nampa-Foreclosure.jpg 400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Molly Messick \/ StateImpact Idaho<\/p><p class=\"wp-caption-text\">This foreclosed home in the Boise suburbs was put up for sale in September.<\/p><\/div>\n<p>Boise&#8217;s housing market gains a bit of unwelcome and retroactive notoriety, thanks to a <em>New York Times<\/em> <a href=\"http:\/\/www.nytimes.com\/2012\/01\/13\/business\/transcripts-show-an-unfazed-fed-in-2006.html?pagewanted=1&amp;_r=1&amp;ref=business\" target=\"_blank\">article<\/a> published this week. Using <a href=\"http:\/\/www.federalreserve.gov\/monetarypolicy\/fomchistorical2006.htm\" target=\"_blank\">newly released Fed transcripts<\/a>, the article details Federal Reserve officials&#8217; apparent lack of concern about the housing bubble and its potential effects on the broader economy, even as the housing market showed signs of weakness.<\/p>\n<p>As an example, the piece gives this account of former Federal Reserve Bank of San Francisco President Janet Yellen relaying information from her region:<\/p>\n<blockquote><p>One builder she spoke with, she said, \u201ctoured some new subdivisions on the outskirts of Boise and discovered that the houses, most of which are unoccupied, are now being dressed up to look occupied \u2014 with curtains, things in the driveway, and so forth \u2014 so as not to discourage potential buyers.\u201d\u00a0 <em>&#8212; The New York Times<\/em><\/p><\/blockquote>\n<p><!--more--><div class=\"related-content alignleft\"><h4 class=\"related-header\">Related<\/h4><div class=\"links\"><h5>Posts<\/h5><ul><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/12\/in-idahos-depressed-housing-market-dueling-dreams\/\">In Idaho\u2019s Depressed Housing Market, Dueling Dreams<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/idaho\/2011\/10\/25\/in-the-wake-of-foreclosure-a-debt-that-wont-die\/\">In the Wake of Foreclosure, a Debt That Won\u2019t\u00a0Die<\/a><\/li><\/ul><\/div><div class=\"topics\"><h5>Topics<\/h5><p class=\"topic\"><img class=\"alignleft\" src=\"http:\/\/stateimpact.npr.org\/idaho\/files\/2011\/08\/PhillipSpears_Getty-60x60.jpg\" height=\"60\" width=\"60\" \/><a href=\"http:\/\/stateimpact.npr.org\/idaho\/topic\/housing-market\/\">Your Guide to Idaho\u2019s Housing Market<\/a><\/p><\/div><\/div><\/p>\n<p>According to the article, the anecdote brought laughs in September 2006.\u00a0 In the years to come, Idaho&#8217;s housing market, like overheated markets all over the country, would plummet.\u00a0 According to RealtyTrac&#8217;s <a href=\"http:\/\/www.realtytrac.com\/content\/foreclosure-market-report\/2011-year-end-foreclosure-market-report-6984\" target=\"_blank\">recent year-end report<\/a>, Idaho had the tenth highest foreclosure rate in the nation in 2011, with 1.77 percent of its housing units experiencing at least one foreclosure filing during the year.<\/p>\n<p>John Starr, a broker in the Boise office of Colliers International, has a more colorful description of Idaho&#8217;s foreclosure problem.\u00a0 &#8220;You can\u2019t swing a dead cat without hitting somebody who has been personally affected, or has a family member who has been affected, or an acquaintance,&#8221; he said.\u00a0 &#8220;It\u2019s just pervasive.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boise&#8217;s housing market gains a bit of unwelcome and retroactive notoriety, thanks to a New York Times article published this week. Using newly released Fed transcripts, the article details Federal Reserve officials&#8217; apparent lack of concern about the housing bubble and its potential effects on the broader economy, even as the housing market showed signs [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":3756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[40,46],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/3743"}],"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=3743"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/3743\/revisions"}],"predecessor-version":[{"id":3762,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/3743\/revisions\/3762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media\/3756"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=3743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=3743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=3743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}