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even a 2-degree increase could cut home values by more than 50 percent?

post #1 of 4
Thread Starter 
saw a bloomberg article on tahoe's terrible ski conditions at http://www.bloomberg.com/news/features/2015-03-06/fake-snow-real-money-the-high-tech-fight-to-save-california-skiing

but this line jumped out: "even a 2-degree increase could cut home values by more than 50 percent."
that seems ridiculous and had no other support or explanation in the article. is that a real thing? are home values in tahoe tied to the weather like that?
post #2 of 4

I'm not sure about the numbers, but it seems self evident that with terrible skiing, home values dependent on the ski resort will suffer greatly. 

post #3 of 4
Sure, just from the rental perspective. If you get less from renting your home, the home as an investment becomes less desirable. If you buy a house to be your ski house and you can't ski, you're going to want to move. Something to think of if the reason you're buying the house is the skiing.. Are there other draws so that your ski house can become someone else's lake house? Because if it's just a ski house and you're leaving because of the ski issue, who are you going to sell it to?
post #4 of 4

It probably matters if the house is at the base of a resort or near Lake Tahoe or Donner Lake where you have a little more in the way of scenery (unless you like looking at bare ski slopes) and things to do besides ski. A lot of places are bought as rentals, either full time or part time, and without rental income in the winter obviously the value will plummet as people count on the rental income to pay the mortgage. Also remember that the article was about California where a 2 degree rise will raise the average snow line above the base of most resorts. Northern and mid Rockies resorts will still have snow for a while longer.

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EpicSki › The Barking Bear Forums › On the Snow (Skiing Forums) › General Skiing Discussion › even a 2-degree increase could cut home values by more than 50 percent?