Reno Nevada News
October 31, 2005



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Real Estate Market Finally Pops!

By Motoko Rich and David Leonhardt
The New York Times

MONDAY, OCTOBER 31, 2005

Just about everybody has taken to using the word "bubble" when talking about the housing market. Among the optimists who have embraced the idea is a condominium developer in Miami who is running an advertisement for two new properties that shows a woman blowing an enormous chewing-gum bubble above the word "Boom!" And at the Mortgage Bankers Association, the chief economist, Doug Duncan, says he subscribes to the Don Ho way of thinking, referring to the singer's hit, "Tiny Bubbles."

But the pessimists are not surrendering the metaphor they started. Robert Shiller, an economist whose book in 2000 predicted the stock market crash, has rereleased the book with a new cover warning of "the worldwide real estate bubble and its aftermath." All of which leads to the question: Does the word "bubble" have any meaning anymore?

In some cases, the word indicates a market in which prices have gone up so far and so fast that they are destined to crash, as some thought might have been happening when a recent report showed that apartment prices in Manhattan had dropped 13 percent from July through September. Others use "bubble" to suggest that prices could drift along for years to come. They might trail inflation for as much as a generation, even if the nature of real estate, with its slow and infrequent transactions, prevents a Nasdaq-like collapse.

To many developers, brokers and bankers, not to mention homeowners, who all have a big stake in the boom, the word has come to symbolize a fabulous market that is likely to slow eventually. The 15 percent annual price jumps of recent years will gently ease into 5 percent or 8 percent increases, they say.


More Green Space for Reno

RENO, Nev.
Planners aim to protect open space Supporters say goal is to preserve public access to trails, wildlife corridors.

In what will give the Reno City Council more leverage in asking developers for public areas, city planners have revived their stalled efforts at writing a master plan for green space.

The end result could be better connections between neighborhood trails and those that venture into the hills around town, more bike paths and better protection for open space.

The goal is to help planners get amenities in new developments, said Reno Associate Planner Jessica Jones, heading the effort for the city.

The city hired a consultant to lead the project, created a working group of about 20 community members and hosted the first of two broad public meetings. The second meeting is scheduled Jan. 19 in the California Building at Idlewild Park.

Valerie Andersen, a member of several area clubs dedicated to open space and a part of the city's working group, said the plan will help ensure open space remains accessible as Reno continues annexing parts of Washoe County for development.

"I'm hoping to preserve public access to trails and also wildlife corridors and open space," Andersen said.

Enforcing the council's will about open space can be difficult because the policies aren't outlined clearly in the master plan, Jones said.

"With this policy document we'll be able to say you have to do this and this and this," she said, suggesting the city could require developers to tie into the regional trail system at specific places.

For Lori Wray, another member of the working group and president of Scenic Nevada, the biggest issue is protecting ravines and drainage ways for open space, something she's been fighting in her southwest Reno neighborhood for years.

"We just want developers to be sensitive to the flood plains that are in (the neighborhoods) and try and leave some open space," Wray said.


October 31, 2005: Reno Nevada News

Thehooks Football Handicapping Radio Show
PR Leap (press release) - Chula Vista,CA,USA
Thehooks Football Picks announced that the first show of Thehooks handicapping show hosted by Dr. D airs this Saturday in Reno, Nevada on 1270 am, KBZZ. ...

Notorious bear killed after Sierra's worst wave of break-ins
KESQ - Palm Desert,CA,USA
RENO, Nevada A hungry black bear that broke into about 100 Sierra Nevada vacation homes and caused up to one (m) million dollars in damage was shot dead by a ...

Swan faring swimmingly now that she has a beau
AZ Central.com - AZ,USA
In this case, Olivia is all aflutter over her new feathered boyfriend. Olivia is the swan that paddles around a lake at the University of Nevada Reno. ...
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Sierra storm causes delays to motorists, forces road restrictions
KRNV - Reno,NV,USA
... Lake Tahoe area. Chains or snow tires are required on Nevada Route 431 over the Mount Rose Summit near Reno. A snow advisory is ...
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About 100 gather at Reno peace vigil
KESQ - Palm Desert,CA,USA
... soldiers from Nevada are among those now calling for US troops to be withdrawn from Iraq. The Reverend Bill Chrystal of Reno has a son who just returned from ...
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Nevada Rep. Gibbons says war in Iraq still necessary
KESQ - Palm Desert,CA,USA
RENO, Nev. ... The five-term Nevada Republican currently running for governor served as a combat pilot in the Vietnam and Persian Gulf wars. ...
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Google Alert for: Reno Nevada

RetailOne Announces Changes to Executive Team
PR Newswire (press release) - New York,NY,USA
... RetailOne, backed by Sierra Nevada Ventures in Reno, Nevada, provides retailers with integrated store planning and execution services, including design ...

Lisa Rea Formally Announces Candidacy to Replace John Doolittle
YubaNet - Nevada City,CA,USA
... Rea, 48, a resident of Lincoln was born in Illinois and raised in Reno, Nevada. She earned a BA in history from the University of California, Santa Barbara. ...

Ex-Ely Post Office, Reno home nationally historic
Las Vegas Sun - Las Vegas,NV,USA
RENO, Nev. (AP) - A ... The J. Clarence Kind House on Marsh Avenue in Reno is on land once owned by US Sen. Francis G. Newlands. Built in ...
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Steep rate increases for natural gas OK'd; Reno area hit hardest
Reno Gazette Journal - Reno,NV,USA
... The biggest increase, 24.5 percent for typical gas customers in the Reno-Sparks area ... The utility's northern Nevada customers will see an increase of nearly 13 ...
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Burglarizing bear shot at Lake Tahoe
Rocky Mountain News - Denver,CO,USA
RENO, Nev. - A hungry black bear that broke into about 100 Sierra Nevada vacation homes and caused up to $1 million in damage was shot and killed by a ...
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Arizona prep player commits to Nevada football
KESQ - Palm Desert,CA,USA
RENO, Nev. A defensive end and track star from Chandler, Arizona has made a verbal commitment to play football next year at Nevada. ...
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Nevada Pharmacy Board delays decision on conscience clause
KRNV - Reno,NV,USA
The Nevada Pharmacy Board is wrestling with a proposed "conscience clause" that would outline ... pick up debate on the issue at its December 8th meeting in Reno.
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