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Land once set aside for development returns to farming roots

Land once set aside for development returns to farming roots

Milan Gould has been farming in the Middleton, Idaho, area, not far from the state capital of Boise, since 1959.

This year, rows of corn stretch from his property across 80 acres of the subdivision, which was once approved for about 200 homes and a park.

A lender ended up with the subdivision after developer Corinthian Homes defaulted on its loans, said Nate Mitchell, mayor of Star, Idaho.

Gould leases the land from the lender.

“It keeps the weeds down. It keeps the land in production. It gives them a tax break,” Gould said. “It benefits all of us and keeps us in business.”

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Low interest rates, lower home prices entice new investors

Low interest rates, lower home prices entice new investors

“With mortgage rates at their lowest level of the year and home affordability at a 40-year high, the idea of investing in real estate is appealing to a growing number of people. Investors have purchased about 20 percent of the existing homes sold this year, up from 17 percent last year and the highest level since 2008, according to the National Association of Realtors.”

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