News 2-3-08 Tough Year for Residential Projects
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Posted by: Wiley_n_Reno - 2/3/2008 8:43:11 PM
Mike one only has to view the 60 Minutes piece about Stockton,Cal.'s real estate mess to appreciate the dire state of the RE market everywhere right now ! http://www.cbsnews.com/sections/60minutes/main3415.shtml
Anyways Reno is no different that the rest of the USA. I live in the North Valley's and I might move to a downtown project myself in 2 or 3 years. We are out here! I appreciate all your hard work and think it's great to include projects in South Reno and maybe North Reno in this website!
Posted by: Bugsy - 2/6/2008 2:16:59 PM
Hi Mike, Do you know when Mr leal will release the full plans of the fitzgeralds remodeling. I'm very curious on what the project will look like. When will the construction begin?
Posted by: NvMortgageMan - 2/29/2008 12:28:36 PM
Alvin Toffler's message in Future Shock aptly applies to Washoe County's situation, “Change is not merely necessary to life – it is life.”
The industries and economies that got us to today may not be what takes us to the next level. Gaming and housing cannot be the pillars of the future of economic growth for our area. It is abundantly clear that our business and civic leadership, along with our citizenry, must continue to develop an environment that attracts the businesses and workforce that will allow us to successfully molt into the economic vision we see, but are having trouble to realize.
Like most cities, housing booms create availability. The cyclical correction will now make pricing of those homes more reasonable, attracting for employer and employee to the region. This correction would have come even without the reckless exuberance of wall street investors.
The job vacuum that the construction downturn has caused must be backfilled by viable, sustainable employment that can only be created by attracting companies that employ a higher skill level and therefore income that will propel Washoe County to that next level. Our state and local governments must do their part, as well.