No Reno Real Estate Bubble
Wednesday, June 22, 2005
It's very apparent from the traffic headaches and the highway construction to relieves those aches, that Reno is prospering. Those that speak of a bubble are nay-sayers with little proof of a real estate bubble locally. Nationwide, there may be an overall bubble. But the numbers for Reno: strong growth in building, strong growth in jobs and new businesses, and an increase in population, indicate a strong economy.
Jim Shabi, economist with the Nevada Department of Employment, Training, and Rehabilitation had this to say about the Reno housing boom: "The construction sector has long driven the region's economy and will continue to do so as thousands of homes and businesses fill in the remaining open space in the Truckee Meadows (Reno and Sparks) and beyond". He isn't surprised by the job and business growth, either: "Businesses from the outside are recognizing the growth here. It's a sign of a healthy economy."
Reno Gazette Journal
posted by author @ 7:16 PM,
