Reno-Tahoe Housing Bubble (Round 2) - March, 2013
Housing Bubble? Yes. If you are a fan of the movie "Groundhog Day" (I love it!; if you have not seen it, watch it to fully understand this post.), that is a good backdrop for our current market conditions. [Yes, Groundhog Day was last month... I know.]
Of course, we are not repeating our "real estate market" on a daily basis, but it was not long ago (Summer, 2005) that the most recent Reno-Tahoe housing bubble burst. The rise to the peak of that market cycle began in the very early 2000s - a 5 year run up in prices with a good number of those years recording 20 - 25% annual price appreciation. Read below or review our report to get refreshed on current conditions.
Fast forward to 2013 and…