Miners working here, living there Posted: Monday, March 18, 2013 11:30 am BOBBY ATKINSON
Shoshone County is home to some of the most profitable silver mines in America and some of the highest-paying jobs North Idaho has to offer, but Idaho Department of Labor statistics indicate nearly 40 percent — about 270 of 682 — of the people occupying those highly- sought jobs call somewhere outside the county their home.
Meanwhile, the housing market in Shoshone has seen a drastic increase in sales and home prices. Real estate broker Kim Cooper said average home prices in the Silver Valley have seen a 68 percent increase this year with the median price showing a 93 percent increase.
Silver Valley and Silver Mountain, Idaho
And despite such a large number of miners choosing to commute to the Silver Valley, Cooper said the housing boom recently in Shoshone County can be largely attributed to miners getting back to work. “We’re seeing some higher-priced home selling in Shoshone now,” Cooper said. “Nobody could qualify for those houses before. Now that [miners are] back to work, they are able to qualify for these homes.” With an average annual income of $79,000, the salary of miners far exceeds the $37,500 average annual income for Shoshone employees not working in the mining industry, according to data compiled by Idaho Department of Labor Regional Economist Alivia Metts. However, Karen Hulstrom of Silver Legacy Realty said most of the new, higher-priced homes in the Silver Valley have been sold. And it’s those new homes, Hulstrom said, that many miners are seeking. Most people looking to buy a home for the first time, such as many of the miners in the Silver Valley, want to purchase new homes, Hulstrom said. However, there just aren’t any new homes in the Silver Valley. Cindy Carlson of Cindy Carlson Realty echoed Holstrom’s statements saying while the housing market has been doing really well, the inventory of homes is rather low right now. “The newer homes for sale are all in Coeur d’Alene. We have very few new homes in Shoshone County,” Carlson said, adding another reason many miners are looking elsewhere for homes: “Quite frankly, the taxes are much lower in Kootenai County.” U.S. Silver and Gold Director of Human Resources Denis Asay said it’s difficult to ascertain one specific reason why 270 working in the mining industry choose to commute, but he said he thinks there could be a few general reasons. “One reason is the housing options are better in Coeur d’Alene,” Asay said. “There’s also more to do there.” He added that many miners could be married to someone with a job outside the Silver Valley. Hecla community outreach representative MIke Dexter, on the other hand, said while he isn’t sure why so many miners would choose to live outside the Shoshone County, he thinks Interstate 90 makes the commute to and from the Silver Valley very easy. Dexter also thinks asking why miners don’t live in Shoshone County is the wrong question. “I think the more appropriate question is why do people from outside come to the Silver Valley to work?” Dexter said. “The obvious answer to that is the jobs are better in the Silver Valley ... There are good-paying jobs with good benefits.” Though, there may be some evidence pointing towards more miners buying homes in Shoshone County. Margie Todd of Ridge River Realty said she has been getting a great deal of miners buying homes or waiting to buy homes in the area. She said that once more of these individuals waiting to buy homes are able to move in, more and more people working in the mining industry will follow suit after hearing good things from those who have made the Silver Valley their home.
Adjusted net income of $4.7 million or $0.08 per share prior to a $14.4 million non-cash impairment charge related to the -
Production of 2.57 million silver ounces at cash costs of $18.33 per ounce with - The Drumlummon Gold Mine consolidated for the full fiscal year 2012....
USGIF @ a bargain Au&Ag hard asset treasure chest - bottom pick -
China has acquired 2,000 tons of gold, and need to acquire another 2,000 tons - China is converting large amounts of dollar derivatives contracts into physical gold - makes higher demand - higher Highs -
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