Suggestion to Fed Officials in Jackson Hole: A Field Trip

It’s nice that the annual Kansas City Fed economic conference is in Jackson, Wyoming. Lovely place, gorgeous views of the Tetons, and it’s where Fed officials have for the last few days been able to talk talk deep thoughts about housing markets without being distracted.

Then again, a little distraction wouldn’t hurt.  According to a story in in the Jackson Hole Star-Tribune, the U.S. Forest Service is mulling moving its Bridger-Teton National Forest office out of Jackson. Why? You guessed it, sky-rocketing real estate prices — which it is thinking of taking advantage of by selling off its prime property.

In a memo dated Aug. 24 and released this week, the Intermountain regional forester’s office cites skyrocketing housing prices as the main reason for the move.

“Housing is currently priced out of the market for most federal employees in Jackson (none under $500,000),” the agency wrote.

… The Forest Service is looking at selling at least four of its 13 acres on North Cache Street to raise money for a new facility. That sale would generate at least $5 million, and likely more. Currently, a 6.76-acre commercial building site on the other end of Jackson is listed for $8.85 million.

David Viehman, author of the Jackson Hole Report and a Realtor with Jackson Hole Real Estate and Appraisal, said the entire 13 acres might be listed for about $35 million.

Hey, maybe a field trip is in order for Ben and the boys.

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  4. The Trouble with Robert Shiller
  5. Ben Bernanke’s Money Sentences