What’s really going on in Reno/Sparks
This month, instead of a Market Update, I give my opinion about the real reason behind the home affordability problem.
We all see the headlines locally and nationally about rising home prices. I hear many complaints in my day-to-day about our current home pricing and our very rapid recovery in housing stock prices.
I hear you, and I empathize. Basic economics tells us, though, that if the current housing stock was overpriced, then no one would be buying homes. The simple fact is that we need to build more units.
There is no growth without discomfort, and our region is growing – I think for the better. We just have to tolerate some growing pains.