Even in Boises booming growth spurt, developers are feeling the pinch of a cooling housing market.
recently laid off 18 employees in direct response to the declining market for housing in the Treasure Valley.
We were just staffed for a much larger project, said Bill Jordan, vice president of human resources for Hubble. The market is down this year.
The company is down to 90 employees from 108, with lay offs of positions across the company, including those working in the field and project supervisors.
Jordan said no one expected the massive growth seen in the housing industry in recent years to continue indefinitely, but that he expects to see the market grow again. Now were getting back to more of a norm, he said.
He was careful to point out that while sales are slowing in Boise, the area hasnt been hit as hard as other areas in the country. All the builders across the country are seeing a down turn, and were seeing it here too, but were still doing well, he said.
Hubble is currently building nine projects around the valley, with several more in the planning stages.