Just met w/ a developer - housing affordability may get much worse.

[Jake Andronico]

Just spoke to a developer in Northern Nevada, and he made a comment that was pretty shocking to hear first hand. 

Apparently, local jurisdictions here are saying they want more affordable housing, but in the same sentence will also say that there will be more regulations, more environmental protections, and more hoops to jump through to develop starter homes. 

This will simply causes prices to be even higher, and continue to constrict demand... 

The Reno MSA already has natural topographical land constraints, and there have been studies about land "running out" here in less than 10 years. 

With people continually migrating from CA, more jobs moving here (Tesla Semitruck factory being built as I type this), I don't know how this gets solved. 

Explore detailed population growth statistics at the Federal Reserve Bank of St. Louis

Releasing Federal Land for private sale? 

I know this is also a National issue, especially in land constricted markets. What do you see out there? 

Curious to get everyones take. 

[Jake Andronico]

Quote from @Bill B.:

Hey @Jake Andronico

I know you specialize in Reno but since it’s close I thought I’d ask. 

I watched a Brigg’s YouTube video on best places to retire and Carson City was #2.

I was thinking more of drive up occasionally during the summer place unless Vegas gets much worse. 

Do you have an overall opinion and an opinion compared to Reno/Vegas?

-thanks. 

Working with a retiree couple right now in Carson City, and closing an 8 plex for a client down there in about a week. 

Great, niche market and definitely slower pace than Reno/Sparks.

But, it's very commutable, and a lot of people working in Reno (especially South Reno) actually live in Carson City because it's cheaper. 

Average age is significantly higher, and there is less to do downtown. But, a lot of people like that. Still close to Lake Tahoe and can go down to Minden/Gardnerville for an even more boutique, small town feel, or zoom up to Reno for a little bit of a higher pace. 

It's a great spot in my opinion, especially for retirees. Not a ton of young professionals except in government roles (Carson City's largest employment option), or if they want a slower pace but are still willing to commute to Reno. 

You know much more about Vegas than I do, but winters are colder here and summers are cooler as well. Not bad in my opinion, but not for everyone. Carson is actually very walkable if you're in the right neighborhoods, but definitely don't have anything comparable to the strip down there! Cute shops and a few slow paced casinos. 

Hope that helps!