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Billings montana cheep homes for sale3/17/2024 ![]() “We need to find some innovative solutions, because this problem, we are just on the front end of this, this is not going to go away anytime soon.616 S Sargent Ave - This single family home is perfect for the investor looking for a rental income property, or great for that starter home and upgrade it to your liking. “They are not vested in our community if they can’t buy a home,” said Simonson. “Prices have gone up about 20 to 30 percent in the last two years,” said Simonson.Īnd at a time when wages have only increased by a fraction of that. The part that becomes critical is the impact the affordable housing crisis has on our essential workers, according to Steve Simonson with the Billings Association of Realtors. But it’s gotten so expensive out there,” said Westwood. “Most of the people who are buying new houses are building them out on the West End. Plenty of growth in Billings is happening in the county, according to Leach, where people from out of state with much bigger profits off a previous sale can afford to build on large lots with high square footage.īut for some like Westwood, that’s not possible. “The market hasn’t cooled off, from what I’ve seen so far,” he said. Westwood and his wife were searching for a new home for over a year, hoping to start a family one day. In fact, Westwood says he was outbid by a larger amount in each case. “I’ve made six different offers.”Īnd at that point, not even one had been accepted. “There’s not a lot in town to purchase,” he said at that time. Permanently affordable is the part that’s critical because many hopeful buyers who may have been optimistic at one time, are now questioning what that means exactly.īack in December of 2022, Charles Westwood found himself browsing through house listings online, trying to assess what his family could afford. We’ve talked to the county commissioners on land that they might have for development and put it in a community land trust and make it permanently affordable,” he said. “The city has talked about donating land. It’s something that could be achieved through a community land trust, said Leach. ![]() ![]() One solution, he says, is to take the cost of land out of the equation. “If people are more unsettled because they can’t find a home, they are more likely to go somewhere where they can.” ![]() “Because we are going to find a shortage of workers, people who stock grocery stores, police, fire,” said Leach. He says his findings are placing Montana into a critical crisis. Greg Gianforte's housing task force – a group that’s been directed to make recommendations to lawmakers and state agencies to increase the affordability of housing. Leach has been studying the impacts of the housing markets for years. “I estimate that 75 percent of people that could afford a house three years ago cannot buy a house today,” said Leach. If you ask him what the future holds for housing, he doesn’t mince words. Leach is vocal about what’s happening around Montana and specifically in Billings. It’s a bleak outlook if something isn’t done and soon, says Bob Leach, a long-time real-estate broker and property manager. BILLINGS – Billings real estate experts are calling the future of housing in Montana a mounting crisis. ![]()
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