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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (141679)	8/18/2008 5:33:02 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"You know, before the mania began, the govt. got by with taxes paid on pre-boom valuations. Now that 61 percent of householders in Los Angeles have been in their homes five years or less, the state has had a huge tax revenue increase." Huge problem. Now we know why California is so broke. They spent the boom money. In Palm Beach county FL for instance the population went up 20% since y2k. The County budget doubled. Salaries doubled. Police doubled. So they have a real problem, assessments are going down, albiet as slow as they can get away with and they want to raise the millage to fuel the bloat. Then the county commissioners backed off after the e-mail threats. California is probably as bad or worse.

To: Peter V who wrote (141679)	8/18/2008 6:09:21 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 306849

good post... You know, before the mania began, the govt. got by with taxes paid on pre-boom valuations. Now that 61 percent of householders in Los Angeles have been in their homes five years or less, the state has had a huge tax revenue increase. i had no idea the number of householders in LA under 5 years was so high.....where did you find that ? if that's true, i just do not see how we don't see the foreclosures escalating quickly