Sunday, January 22, 2012
States Facing "Death Spiral"
All across the United States, states, counties, and even cities, and some we might know.....are facing a situation where their local property taxes are 20% above the rest of the country, and at the same time they are considering raising taxes further....at the same time they are facing large declines in job formation...and in fact people are...(whisper it) "leaving." Jobs in government leaving...jobs in the private leaving. National leaders are talking about how much they love to fire people. Governors are refusing to spend even a little to generate job growth..... This puts the individual property owner in a pickle of a situation.....nobody will buy the homes for sale....nobody can afford to buy them if they wanted to....and so people are frozen in place without the stable employment situations that make stable home ownership possible.....Folks are frozen in place... I call this the "Death Spiral." Sound familiar?
Posted by Richard Woulfe at 9:23 AM