Tesla's arrival in Nevada pushes up home prices, squeezing locals
Tesla's arrival in Nevada pushes up home prices, squeezing locals
Rocketing prices wrought by a years-long real estate boom, have priced many middle-class Americans -- out of the market, an issue that could weigh heavily in November's presidential election. In Washoe county, new companies arrive and make the housing prices go up, which can make locals feel disenfranchised.
AFP VIDEO
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
Twitter - https://tmt.ph/twitter
DailyMotion - https://tmt.ph/dailymotion
Subscribe to our Digital Edition - https://tmt.ph/digital
Check out our Podcasts:
Spotify - https://tmt.ph/spotify
Apple Podcasts - https://tmt.ph/applepodcasts
Amazon Music - https://tmt.ph/amazonmusic
Deezer: https://tmt.ph/deezer
Tune In: https://tmt.ph/tunein
#TheManilaTimes
#worldnews
#tesla
Rocketing prices wrought by a years-long real estate boom, have priced many middle-class Americans -- out of the market, an issue that could weigh heavily in November's presidential election. In Washoe county, new companies arrive and make the housing prices go up, which can make locals feel disenfranchised.
AFP VIDEO
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
Twitter - https://tmt.ph/twitter
DailyMotion - https://tmt.ph/dailymotion
Subscribe to our Digital Edition - https://tmt.ph/digital
Check out our Podcasts:
Spotify - https://tmt.ph/spotify
Apple Podcasts - https://tmt.ph/applepodcasts
Amazon Music - https://tmt.ph/amazonmusic
Deezer: https://tmt.ph/deezer
Tune In: https://tmt.ph/tunein
#TheManilaTimes
#worldnews
#tesla
Category
🗞
NewsTranscript
00:00We're not going to publish this, are you?
00:28A lot of the bigger companies have come into the area in the last few years, companies
00:32such as Tesla, and they've brought a lot of employees and a lot of people with them.
00:37And what that's doing is a lot of the employees and people that have moved into the area are
00:42trying to get into housing, which has created a supply and demand effect.
00:47So the demand is high for the homes and the supply has gone down.
00:51First time homebuyer pools that we're seeing, if I had to give you a stat list, so three
00:54out of 10 people, three are locals out of those 10.
00:58The rest are people moving in from various states, from Texas, New York, California,
01:02you name it.
01:03And what's happening is we're getting a lot of locals that are upset about who's coming
01:08in here because we don't have enough housing.
01:10So they're not happy at all, they're angry about it.
01:13And for myself and people I've grown up with in Reno, we're really left out.
01:17The dynamics I see with this are, as those companies came in, our local governments gave
01:24them massive tax breaks and that makes it so that our budgets are then in the red in
01:28trying to afford road maintenance, water services, schools, all of these things.
01:34We're not getting that income, those tax dollars to support those things, but we have new people
01:38coming in.
01:39Everything was going my way.
01:40I went to college, got a degree, I have a job that I make over 60K a year and I have
01:48a wife who makes even more than I do.
01:50And we still don't expect to ever be able to own a house in Reno.
01:54It's too expensive.
01:55I've gone around and looked a little bit and it's like $400,000 for a double-wide trailer
02:01that needs repairs.
02:02Yeah, well, when looking for housing in Nevada, it is a bit scary, but at the end of the day,
02:08you have to kind of just keep chugging along and what do you do?
02:12Not find a house, right?
02:13So yeah, prices are scary, interest rates are scary, but at the end of the day, I think
02:18there's still opportunity to find something.
02:21So we can't let that deter you from your goal, essentially.