EP: Sounds like Park City UT in the summer, except it wasn’t cheap.
A bidding way in a small Utah town, or anywhere outside large coastal cities, sounds like a very bad move for the buyer.
Short term factors could see a 20% jump in prices in one year, but long term Utah should see housing prices rise only at the level of construction costs.
That’s probably on a 2 to 3% long-term growth trendline in middle america.
Utah will see its electricity costs go up when it has to close down its legacy coal power plants. It won’t go up to California levels, but the gap will partly disappear.
