'Another Family Losing their Home': SF Transplants are Displacing Tahoe Locals | Seattle RE Podcast

“Another family losing their home,” the post began. “Owners have decided to move up from the Bay and we have 60 days. I know this is a long shot with how crazy everything is right now, but we are a family of four plus a kitty looking for a rental in the basin.”

When Rachael Brigham posted that message to a popular Facebook group for Tahoe Truckee locals on March 24, she was desperate. Her landlord dropped the news just a few days before their lease expired on April 1: They were moving to Tahoe from San Francisco and wanted their house back. The Brighams had to find somewhere else to live, as soon as possible.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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#SeattleRealEstate #HousingMarket #Podcast

[Kathleen]

I have had my home in Tacoma for 20 years, most of that time I rented out my downstairs. But with the moratoriums and growing homelessness in the area, I decided to quit the rental game and sell. Not easy asking renters to move these days. I am just looking to leave town far away from Western Washington and the socialist movements I am currently surrounded by

[AmericanPatriot-]

Sean, I LOVE it when you talk, "rethinking and re-imagining". I love it!

[GeoFry]

If you rent it...is...not...your...home. Doesn't matter how you feel or how long you lived

The next step above that....it's not your city either. You have no actual claim. Get over yourselves.

City people/renters are ridiculous.

[thomasstandley]

Of course, they're selling. Who wants to rent to someone who doesn't have to pay rent. If I was a landlord (and I've been one in the long ago past) the last thing I'd do during a rent moratorium is rent a vacant unit. It's going to be cheaper than paying for some of the necessary expenses for an occupied unit and then have to turn around and go through the eviction process. Better to wait until it ends or just sell.

[Ron-fqsn]

I feel their pain, I used to live in Bay Area and my rent went up from $2200 to $4k and so I bought a house in San Joaquin county and I commute 80 miles each way because of my work in Bay Area, to be honest it’s very hard for me but my wife and kids are happy and that’s all that matters.

[troystocker]

They say 25% of the people living in Vegas are from California, they'll ruin Nevada

[SaraJean]

Keep Tahoe- weirdo free! We don't want any ppl from the coast displacing the locals!

[fluffyduckbutterssister]

I moved to country and had to quit my job because I was commuting 50 there and 50 home In 8 lane traffic. Couldn't not handle it. Now I sell manufactured homes in the country. Life is like a box of chocolates

[kent]

It's not the governments job to build affordable housing in Seattle. Or Tahoe. Or Aspen. If those cities need service industry workers, those cities need to do what is necessary OR do without. It's no one else's problem.

[priscillanotpresley]

Diaper mandate was lifted yesterday here in Tulsa OK :)

[neighborhoodcatlady]

Another issue in these areas are the limits on new construction. Believe that Tahoe has extreme limits on the amount of new construction it allows. Understand that this may be geographically driven, but end result will be expensive housing

[marnaehrech]

VT is experiencing a sales boom cuz of the Flatlanders (folks from NYC, NJ, etc) wanting to escape the city. Driving prices way up. Locals screwed. Thx Sean!!

[drones]

I live in the county that has South Lake Tahoe in it I can assure you the Bay Area tech people are pushing the locals out I am most likely going to have to leave the state if I want to remain in the Sierra Mountains type environment.

[snelson]

We own rental property on the Nevada side of South Shore. We’ve had great tenants in our who paid their rent through the lockdowns. With the huge increase in demand for housing up there, we could have vastly increased the rent we charged. We kept It the same. Why? Because they’re great tenants. They take good care of the place and they pay with no hassles. That counts for a lot in my book.

[willb]

Meanwhile this woman and her family moving to reno or Verdi displaces those locals in the same way she was.... And the s### keeps rolling downhill....

[ThePyleDriver]

As one of the long time (21 years) families being displaced in two weeks, yes this is a huge issues up here. I run a local Facebook group with nearly 20K members and we have a constant stream of people begging for a place to rent so they can stay in the area they've spent years (or decades) making their home.

The Bay Area "Zoom Town" effect has taken an already bad situation driven by STR's to a new level of awful. If you don't have $1M+ in cash for a small old condo you are completely out of the market. If you rent, as we have, you have no choice but to leave. The 3/2 condo we've been renting for $2400 would now rent for $4K+ if it hadn't just been listed for $980K. It was worth under $500-600K 5 years ago when we moved in and the current owners paid $347K in 2015. We are trying to figure out where to go with sane pricing that is still West of the Rockies.

Personally I'm OK with rolling with the change but having to explain to my 5 year old son why he's leaving the only home he's known, won't see his friends again and won't be joining them in Kindergarten next Fall really sucks. The preschool is doing a great job of getting them all excited for the step up but he has to sit there knowing he's not included and that, while we are fortunate to have family to move in with, we have no idea where we are going to end up long term.

Our only hope for staying in the area would be a massive and total collapse in the Bay Area tech economy and real estate values. While that may eventually come via a dollar collapse it certainly won't be soon enough to keep us here.

Thanks for your show - this is a first time comment but I've been a long time viewer.

[ItsEricAZ]

I suspect the Lake Tahoe area is very hard to build new houses or apartments due to a lack of available land and gov red tape. This is the other bookend of the rental market squeeze.

[michaelporter]

Moved to Truckee from the bay area in 1992. Loved the area so I bought a home. If you love an area and want to stay, BUY A HOME. Make a commitment. Paying rent is for lazy people who don’t want to invest in a community. I struggled for years while paying my mortgage and raising my kids. I moved to Reno in 2008 because Truckee was becoming East San Francisco. I bought a home in Reno and love it here. If you want to live somewhere, invest.
Big fan of your podcast!

[randywilliams]

The local business won’t be able to hire any help because nobody can afford to live there .

[sjnix]

Two years ago my wife's family sold a piece of property On state line and on the water with a private beach. Their family had owned the property for almost 100 years but it just got so obnoxious on the weekends and most of the summer that it just wasn't what they had grew up enjoying. Between the foot traffic (on a clearly marked private road), the endless weddings and parties at the Royal Valhalla Hotel which was at the mouth of the private road and the insanity of Heavenly Village it was time to go. We miss it a lot but it had changed SO MUCH just in the 20 years I had been going. My mother-in-law had been going every year since 1939. Super sad what South Shore has become.