The Reno Gazette-Journal ran an interesting piece on the effects of AB284 on Washoe County’s shadow inventory. A few local real estate agents and others were interviewed for the piece, including this blog’s Mike McGonagle. See the RGJ’s Shadow Inventory will slow Washoe County housing market in coming years
Not surprisingly the consensus is that AB 284 is simply delaying the inevitable and that at some point the market will have to deal with high numbers of foreclosures and borrowers who are delinquent on their loans. Precisely when this will occur and how big a problem it will be is less certain. Kevin Sigstad, president of the Reno-Sparks Association of Realtors, who was interviewed for the piece, remarked that he wouldn’t be surprised if the issue was resolved in 50 to 90 days.
But most agree that the longer the foreclosure process is delayed the larger the problem will be.
What do you think? Is AB 284 hurting more than helping?
related post: Nevada NODs grind to a halt