Is there anything technology can’t fix? The Financial Times reports on the revitalized luxury real estate market of Lake Tahoe, the scenic and multi-seasonal retreat located on the California-Nevada border. Like so many resurgences these days, it’s boost is coming from a familiar source. After falling about 44 per cent in the three years to June 2012, prices in Lake Tahoe have been growing steadily, according to online real estate database Zillow, and are up 5.9 per cent in the year to October. Local agents all point to one factor: the technology boom in northern California, which has resulted in the state having more billionaires than any other in the US.“There’s an ever-growing luxury market,” says Sue Lowe of estate agents Chase International, “but the area still has a small-town community feel which I think appeals to those looking for second homes outside a major city”.
Nevada’s lack of an income tax also draws affluent investors to its side of Lake Tahoe. However, that benefit can mean a higher cost to property prices. More:Apple Paychecks—One Reason for High Home Prices[Financial Times]View the full listing (pictured top)