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Old 10-05-2010, 08:22 PM
 
1,174 posts, read 6,282,749 times
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Is Reno headed to be the Detroit of the West? Here's the article from the Reno Gazette Journal . . .

Is Reno on track to be Detroit of the West? | rgj.com | The Reno Gazette-Journal
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Old 12-17-2010, 10:56 AM
 
Location: Reno, NV
16 posts, read 31,643 times
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I think in the longrun Reno will come out ok but Vegas, with it's limited economy (like Detroit) might head down that path.
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Old 12-18-2010, 06:43 PM
 
197 posts, read 458,213 times
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don't believe everything your read in newspapers. mod cut:

Last edited by scirocco22; 12-19-2010 at 10:27 AM.. Reason: baiting removed
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Old 12-19-2010, 04:23 AM
 
83 posts, read 186,304 times
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it will be fine
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Old 12-19-2010, 01:42 PM
 
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Seems to me that the OP hasn't spent much time in the Motor City in say, the past forty years.
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Old 12-28-2010, 12:06 PM
 
Location: Reno, NV
148 posts, read 467,169 times
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Newspapers are corporate owned, and the big thing recently was to compare every city in America to Detroit. Comparing Reno to Detroit is ludicrous. Detroit has almost a million people surrounded by millions of people living in smaller towns and cities in what used to be the largest industrial zone in the world, which now is being taken over by China. Reno is 200K people surrounded by rural desert land, which used to be the largest gaming city in the world before Vegas took over. Our local economy used to rely on gaming and tourism, but even as gaming and tourism died in the 90's, our economy thrived on California transplant companies moving here for lower taxes and regulations. So long as we have less taxes and fewer regulations than the Socialist People's Republic of California, companies will continue moving here. We have high unemployment here bc of all the people who moved here during the construction boom who are now out of work. Over time, they will leave or switch jobs and the unemployment rate will go back to the national rate or lower. Comparing us to Detroit is like comparing Luxembourg to Zimbabwe. Detroit is a s***hole that will never recover. The only reason it still exists is all the former autoworkers who are now living off union pensions and social security. Reno will rebound just fine so long as we remain better than California.
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Old 01-12-2011, 09:12 AM
 
Location: Macao
15,864 posts, read 35,985,764 times
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It's a mistake to compare western cities to Detroit.

I'm a Michigan native...basically Detroit was destroyed because of racial problems, drugs - especially CRACK which destroyed a lot of U.S. cities east of the Missisippi in the 1980s, an just plain violence.

The only thing that RENO has in common with any of that...is well, ZERO. Nevada just has an overabundance of housing, and people were buying them at way over-inflated prices well above their incomes.

Which is ironic as Detroit has the opposite problems. Houses are so incredibly cheap, that even at $5,000 at the height of the bubble in the rest of the U.S., very few people were willing to go to Detroit and buy one. (Before you think you might want to get one at that price now, which you still can, Detroit also makes buyers pay for ALL backtaxes, so the prices go up quite a bit that goes directly to the city government). All kinds of little hidden surprises about Detroit like that.

Is Reno anything even remotely like Detroit? NO, it's not.
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Old 01-12-2011, 11:14 AM
 
14,177 posts, read 23,854,931 times
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Quote:
Originally Posted by Tiger Beer View Post
Which is ironic as Detroit has the opposite problems. Houses are so incredibly cheap, that even at $5,000 at the height of the bubble in the rest of the U.S., very few people were willing to go to Detroit and buy one. (Before you think you might want to get one at that price now, which you still can, Detroit also makes buyers pay for ALL backtaxes, so the prices go up quite a bit that goes directly to the city government). All kinds of little hidden surprises about Detroit like that.

I looked at the old mansions off of Woodward Ave. last year. The price was about $300k for a house that would be $1.5M in Chicago. However, the property taxes were $20k!
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