The upside of the over-inventoried current housing market in Reno?
Brand-new duplexes in South Reno are falling to reasonable prices again. 1,200 square feet, 2 bed, 2.5 bath, 2 car garage for $192,000. For this, you share one wall with your neighbor. Even larger models are still under $300K.
In my estimation, prices need to come down further to restore the fundamental balance between earnings and home values... but it's good news for those (like me) who'd like to be homeowners. It is, however, a pain for those who can't afford their homes.
This brings up a fundamental question. What, if anything, should the government do about the current mess? Excessive intervention breeds further speculation (and the need for further invervention) "next time," but no intervention means people lose their homes. When prices are too high, they either have to come down or you need to artificially prop them up. Current owners like the latter, but prospective owners (and those who you NEED to have a housing market at all) like the former.
Thursday, January 17, 2008
Subscribe to:
Post Comments (Atom)
3 comments:
where are the duplexes for 190? Link?
Gladly:
Sierra Sky @ Cyan, by Centex.
I don't know, but I do have family that will lose their home this year. It's their first home, so it is very sad and frustrating. Hey Dave, click over to my site a minute and see if you can help answer my new question.
Post a Comment