Wikinvest Wire

Housing crisis in Reno

Saturday, October 25, 2008

Haven't heard too much about the fall-out from the bursting of the housing bubble in Reno, Nevada, but we've seen the thousands and thousands of homes built in the area after making a few loops around Lake Tahoe in recent years - they seem to go on and on forever.


baddriver said...

"we have, you know, no means, if we needed it, to help ourselves out by pulling money off of our house anymore. We can't do anything, we're pretty much stuck here, waiting it out"

If that doesn't sum up the housing bubble mentality I don't know what does

fish said...


I used to live just up the road (Hwy 395) from Sky Vista...until Bill Bonner scared me out of my house in 2003! Not so nice area....cheezy construction.....cold and windy!

That poor gal might have a long wait for things to come back!

Anonymous said...

Politician (I do not call them congressman or senator any more because politics is their God) Reid said "A foreclosures is not good for anyone. It's not good for the lender. It's not good for the neighborhood."

Why don't we hear - in times of rising property values - "mortgages, including option ARMS, are not bad for anyone."?

Because it's not a case of good or bad. It's "risk". The word has lost it's meaning. If there weren't foreclosures, there couldn't be mortgages.

Unprincipled Mr. Reid and his peers are traitors to the United States of America. They've been terrorists since before Osama. Their politicking to special interests and resulting creative fabrications makes them palatable to an unprincipled selfish populace.

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