Salt Lake City ranked among the top housing markets for 2018

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  • don17 Temecula, CA
    Nov. 30, 2017 9:12 a.m.

    This story says there is an extreme need for single family and multi-unit housing. This means there is an opportunity for builders to come in even more than they have with a reasonable expectation that when they build now these new properties will sell. The economy is booming in Utah. More built homes and condos mean more carpeting, tile, lumber, appliances, windows, glass and other items bought and sold. This helps the Utah economy as well.
    Banks are still constrained by Dodd-Frank so Impartials artificial cost raising regulation is still in place but they complain on costs and values rising. Impartial has set a 300,000 dollar limit on homes artificially. Based on what? Just what they think! A standard Socialist ploy. Make up a number.
    The key to remodeling a home is remodeling if needed and valuations are maintained. Be prudent and do not over extend. Do not turn your home into a overextending ATM. Do not borrow up to your home value. Maintain equity. Do not have debt in credit cards and cars which ruin your debt ratio and creates stress in budgets when income flattens or falls.
    A hot home market means jobs for plumbers, electricians, carpenters, etc

  • Kangrui Concord, NH
    Nov. 29, 2017 10:20 p.m.

    This is one reason I probably won't be staying in Utah after I graduate from BYU. With all of the people being born here, I don't see how it will ever get cheaper. Soon enough, the valleys will fill up, and where will Utahns be able to live then?

  • birder Salt Lake City, UT
    Nov. 29, 2017 7:09 p.m.

    And this pushes a lot of people out of the housing market, such as police officers, teachers, etc. It also contributes to the gridlock on our freeways as people are forced to move farther and farther away from their jobs in order to afford housing.

  • Impartial7 DRAPER, UT
    Nov. 29, 2017 2:04 p.m.

    We didn't learn anything from 2006. My brother in-law is a General Contractor, specializing in major remodels. People are paying inflated costs for homes in Sugar House, Millcreek, and Holladay. Homes built in the late 50's, early 60's are selling for 350-450 K. Same homes sold for 250K in 2008. They need plumbing, electrical and HVAC systems entirely replaced. They get 125K construction loans & gut the homes. They end up with 550K in a 2800 sq.ft. 1958 home. Realistic price should be about 300K. Banks are lending money for overpriced properties to marginally qualified buyers. The American public will be bailing out the banks and Wall Street all over again. Amateur house flippers are in the market. The correction is around the corner.

  • dolce et decorum est Murray, UT
    Nov. 29, 2017 12:45 p.m.

    Yes, I am a home owner, but these kind of increases in housing values sadden me because they make it harder for young families to get into a home and are more evidence of the financialization of our economy and the prevalence of a get rich quick mentality in our society.

  • LivinLarge Bountiful, UT
    Nov. 29, 2017 12:44 p.m.

    Beware of the bubble, friends and neighbors...