I don’t know for sure, but would bet that it is not or could be.   The criteria that lead to the last bubble in the real estate market in this area was fueled by easy lending across the whole U.S.  and that is not the case now; just yet.   I see a lot of talk of loosening lending practices and actual loosening in order to beef up the banking economy, so we could be heading into a new real estate market bubble across the whole U.S.  The money hungry banks and mortgage lenders need to rebuild and they will.  But, in the Reno market, we have a big influx of people entering the state for business and for retirement from California. So, that is good in many ways for our market.  The business people, we hope bring jobs, the retirees we hope buy things, but they drive up the price of real estate in the area.  It becomes really hard for the many people in Northern Nevada to secure housing with the pay they get which is really low compared to pay in California to  have decent housing now.  Investors come in from California and they don’t care anything about where they are investing; they only care about how they can buy something cheap and gain profits. So, the market is driven up and up and it is not sustainable in this climate.  This is the bubble that drives me crazy and this is potentially an end to the character of Northern Nevada as I have known it.  It is as if the tides of Northern California have overflowed and they have entered into our state. I don’t know what to do about it; it is a good thing, since I am real estate agent to get a good price for properties from a buyer from California, but it also leaves me sad and crying when a client who has lived here for many years can hardly buy a decent house on their budget.  Maybe we need to charge an entrance tax for people buying properties from other states, but WHAT, we let Tesla, Switch and Apple in and other big companies in with  subsidies  to them so that does not seem fair to a common home owner or a private investor.  Maybe we just need to let things alone and see what happens.  But what will happen is that we will become a little satellite of Northern California for better or worse.  I can imagine all that…..more home brews, more wine walks, more talk about what restaurant is cool – a lot of nice things….and probably we can’t have the Reno Rodeo cause it might heart the animals. Whatever…….blahhh…We need to save face in some way. There are many rural places in California that would back us, but we cannot allow big money to totally change our environment.  And as far as the notion of hosting an Olympic games go………go see them somewhere else.  This year we had great snowfall and it would be great, but we have been in a drought for many years, so making all the snow  and all would be a giant thing.  And besides, why would our state want to put out the money to host it? Of course, we would need to do it with California and all, but it would totally bust our budget in Nevada.  It would be a good thing on the world map but would not be a good thing for the region. It would require more resources than we have and we don’t need all those people here anyway.  Well, I guess that is in the hands of Vail Associates and the other ski area people and they will drive that. I just wish that we can keep our mountains AS  low key as much as possible and continue to keep our beautiful Lake Tahoe Blue  and retain as much access as we might have as public people to these shores and to the Truckee River. So, if anything ever comes up for vote about an Olympic venue, just vote no. No matter how much it might seem to be a good thing, it will never be good. We don’t need that attention and all it holds. WE have our little paradise here. and better to have it the way it is.  It  is enough well traveled.

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