Chinese Criminals Play a Role in Idaho Home Prices

Are you struggling with Idaho housing costs?  China plays a role in driving prices up.  Twin Falls County Republican Party Chairman Tom Wangeman says you can draw a direct line. He recently read a story in a European publication about how China is involved in money laundering.  The Chinese sell a lot of chemicals used in the production of illegal drugs.  The money they receive is then converted into dollars, which is then invested in coastal real estate in the United States.

It’s a Twisting Road to Idaho

Coastal prices are then inflated, sellers take the money from the investors, and then come to places like Idaho, and drive up the cost of housing here, because it appears to them a bargain.

While there’s a smorgasbord of causes for the runaway cost of housing, this is one that our government has some direct control over.  Which is why the Trump Administration is attacking drug boats.  You may not stop all of them, but if you deter some shipments, it could be a deterrent, and cut business, and cut the benefit for China.  The approach would be easier than confronting China in an all-out war!  Don’t expect overnight results.  We still need more homes.  There’s a shortage.  The law of supply and demand would follow in lessening costs, which have eased somewhat nationally.

Local Leaders have Options

Trump’s housing secretary was on my radio show a few months ago, and he explained we still need to cut red tape, including at the state and local levels.  He shared that same message later that day with some of our local politicians.  They told me, and they said he was very direct.  I like that approach.