[molson]

Just checked on my first house I bought in 2010 - 768 square feet near downtown Boise. $87,000. Zillow has it at $428k now. That's inflation, but also Boise becoming one of the hottest real estate markets in the country in the interim. I don't feel bad about selling it though. I bought a new house 5 years ago for under $200k that has had a similar increase on Zillow. My mortgage payment is still under $1,000, when that wouldn't get you a studio apartment here anymore.

I remember some housing v. renting debates, including here. At least in my town, I was lucky to be right. I know quite a few people who stuck with renting who have had to move. Rents are going up 2X and 3X overnight, or on lease renewal. I would have had to have figured out something myself. Timing and luck are everything.

Edit: There are many other consequences to this besides renters being screwed. It is really hard to hire new people for open professional positions. A place like Boise has always relied on hiring a lot of tech and white collar workers from out of state, who were drawn here by the lower cost of living. The salaries haven't increased much, but the cost of living has gone completely bonkers. People still assume that they can come to Boise and get a big house and a yard for cheap, and when they figure out that's no longer the case, there's much less reason to move here.