In 1926 a newly paved Highway 40 was dedicated and in 1964 Interstate 80 was completed, making the area readily accessible from the San Francisco Bay Area. The 1960 Winter Olympics, although poorly attended, put Truckee on the map as an international destination. They were the first winter games to be televised. It's said that true locals remember when there was no stop sign at Highway 89 south and Donner Pass road. Truckee began to grow in the 90s, but the real boom has been in the last three years and has mirrored the wealth generated in the Bay Area.
Second homes are great tax breaks.
The drop in stock values has not affected real estate sales as people are investing their money in property instead. Like Vail, there's no going back.