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

To: John Vosilla who wrote (180805)	1/30/2009 5:26:02 PM
From: Jim McMannis	Respond to of 306849

One readers comment was intetesting... "I'm curious how well Orlando and Tampa would fare if the survey also included an asterisk next to these cities* Note: Due to Florida law, moving to these cities would involve paying higher property tax rates than current residents (in otherwise identical houses). In other words, current long-term residents enjoy a substantial tax-break that is annually subsidized by newer residents." ---------- Pew: Almost half of Americans want to live somewhere else National relocation survey: Tampa still top choice... blogs.tampabay.com According to this USA Today story, usatoday.com a Pew survey found most Americans would like to live somewhere else. And guess what? Tampa was ranked as the fifth most popular place people would like to move to, favored by 34 percent of those surveyed. Orlando was fourth. That's good news for Florida for whenever the housing market recuperates. Here's one key section: In addition to Denver, favorite cities among Republicans are Phoenix, Orlando and San Antonio. Half of all liberals would like to live in San Francisco, more than double the share of conservatives. San Diego, once a bastion of conservatism, appeals to Democrats, liberals and moderates. "Good weather and the beach triumphs over ideology," Morin says. I also found this bit interesting considering all the calls from "smart growth" proponents to abandon the suburbs in favor of city centers: "City residents disproportionately are more likely than people living in other types of communities to say they would prefer to live in a place other than a city," Morin says. "Fewer than half of all city residents say there is no better place to live than in a city." A smaller proportion of women express the desire to live in the nation's largest cities. "Women are less drawn to big cities," says Robert Lang, co-director of the Metropolitan Institute at Virginia Tech. "It could be safety." I'm not surprised by the anti-city findings. When I was single in my 20s, I preferred city life. That's where the bars, restaurants, movie theaters and unattached women were. But when you become a Married with Children candidate, thoughts veer towards good suburbs with safe schools. You're no longer charmed by pools of vomit on the pavement, free-spending big city mayors and sirens 24-7. Of course, most of the commentators who set the nation's cultural tempo live in big cities and tilt their coverage accordingly. Inner cities are not dens of depravity. But neither are the suburbs, all the Hollywood, American Beauty propaganda to the contrary. Posted by James Thorner at 2:30:33 PM on January 29, 2009 in \| Permalink Comments I'm curious how well Orlando and Tampa would fare if the survey also included an asterisk next to these cities Note: Due to Florida law, moving to these cities would involve paying higher property tax rates than current residents (in otherwise identical houses). In other words, current long-term residents enjoy a substantial tax-break that is annually subsidized by newer residents. Posted by: Florida - Paradise Lost \| January 29, 2009 at 04:49 PM Tampa is far from perfect, but I do love living here. Probably the one thing I would love to see happen in Tampa is the arrival of a big manufacturing boom. It would be tremendous for the local economy and give this region a huge advantage over the other cities in that list. A tall order I realize, but there it is. Posted by: Alex \| January 29, 2009 at 07:46 PM "That's good news for Florida for whenever the housing market recuperates." Whenever is right.. Nobody can relocate to Florida or anywhere else until they sell their old home which is in gridlock. Posted by: ParadigmShift \| January 29, 2009 at 10:04 PM * Note: Due to Florida law, moving to these cities would involve locking in a property tax rate for the future. In other words, the longer you stay, the greater the substantial tax-break you will receive. If you are moving to Florida as a retiree, the tax break is even greater. Posted by: Tino \| January 30, 2009 at 07:28 AM The Truth About Property Taxes in Florida: *** Note: Due to Florida law, buying a home today will result in your tax assessed value being greater than your purchase price. As a result, you will be paying substantially more taxes than your neighbors who live in a very similar house. Your taxes will increase at the same rate as your neighbors from that point forward and in maybe 20 years or so; you might achieve tax parity with your neighbors. Posted by: \| January 30, 2009 at 10:04 AM

To: John Vosilla who wrote (180805)	1/30/2009 5:26:56 PM
From: Poet	Respond to of 306849

Sorry to see you go again, John. Best of luck to you and yours.

To: John Vosilla who wrote (180805)	1/30/2009 5:29:12 PM
From: Jim McMannis	Respond to of 306849

Check in every now and then...someday we'll get lunch.

To: John Vosilla who wrote (180805)	1/30/2009 5:54:26 PM
From: MulhollandDrive	Respond to of 306849

i still don't get the party affiliation issue, but let's move on... you're right that GE is a good indicator of the broader economy and i happen to believe they really screwed themselves over by not spinning off their financial arm (although some say the financial center was THE profit center, until it stopped<g>)....i'm not unconvinced that they basically couldn't (GE has a well established reputation of being able to massage their earnings to come just above estimates for YEARS....god knows what off balance sheet sums of illiquid securities are/were lurking in GE Capital) and their heavy exposure to CRE that would be still be my biggest concern with GE going forward...for that reason i don't like it as a hold, $12 seems to be a good entry for a trade<g> stock market obsession is for those who can't make it happen in the real world and watching that stuff day in and day out as well skews your sense of the world to extreme views IMHO.. i agree with that assuming that is ALL one looks at, but i'm seeing real businesses failing, (started in earnest last summer when oil peaked) real wealth destruction as underlying assets have cratered ...and importantly, witnessing first hand, individuals who are ready to throw in the towel even though their businesses technically aren't insolvent, but are being squeezed by economic conditions and ballooning taxes....when you speak with a small business owner as i did the other day (U-haul franchise) where the owner says he can make more INCOME working at walmart than slogging away for 60 or 70 hours, then it appears to me that the business climate is reaching a critical point...this isn't because they are reading blogs, it's because they are maxed out on fixed expenses and the numbers simply no longer work.....charles hugh smith has an excellent essay on this, his 'end game' series, notably the section entitled 'chess and taxes'.....read it if you are interested oftwominds.com $28k for a house in FL is amazing.... a depression print (well maybe not for detroit<g>) but Fl, yes...i don't see how you can lose whether you rent or sell good luck....

To: John Vosilla who wrote (180805)	1/31/2009 1:32:10 AM
From: XBrit	Respond to of 306849

don't expect ... your carefully timed stock trades to save you. I don't expect it. It actually happens. Thank you for that negative, cynical and burned out message. I recommend Prozac. Have fun, and I hope you can recharge in Florida or wherever you're going.

To: John Vosilla who wrote (180805)	1/31/2009 1:36:59 PM
From: Pogeu Mahone	Respond to of 306849

John Have fun! Good hunting. John

To: John Vosilla who wrote (180805)	3/4/2009 3:43:56 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Fla. county may declare itself disaster area Politician says that might be solution for area hit hard by foreclosures msnbc.msn.com PORT ST. LUCIE, Fla. - Just five years ago, Port St. Lucie was America's fastest-growing large city. Then the foreclosure crisis slammed it like a hurricane. Today it sits in one of the hardest-hit counties in the nation. Thousands of houses are empty or unfinished. Neighborhoods are littered with for-sale and foreclosure signs and overgrown, neglected yards. Break-ins are on the rise. But one politician believes he has a unique solution: Declare St. Lucie County a disaster area as if it had been hit by, well, a hurricane. "This is a manmade disaster," County Commissioner Doug Coward acknowledged. But he said that is why "we've got to do something. Clearly, the economic crisis of the country far exceeds the ability of local governments to solve it, but we're trying be a part of the solution." The declaration would act like a mini-stimulus plan, giving government officials access to a $17.5 million county fund usually reserved for natural disasters. The county would be able to put some of that money toward shovel-ready construction projects and loosen the bidding requirements so that local contractors got the jobs. That, in turn, could enable residents to pay their mortgages and stave off foreclosure. Other politicians fear a disaster declaration could scare off investors and drive down the county's credit rating, which would make it more expensive to borrow money. But the idea has appeal among many homeowners, particularly those in the construction trades, which are seeing unemployment rates of up to 40 percent. Housing bust Jacqueline Byers, research director for the National Association of Counties, said she knows of no other U.S. county that is contemplating such a move. "Everybody is kind of foundering around. Counties are looking for ways to address their shortfalls. This might be an innovative way to do it," she said. During Port St. Lucie's boom, houses sprang up by the thousands as young and old flocked to the area, lured by affordable prices, open space and a bit of a slower lifestyle. Port St. Lucie — the spring-training home of the New York Mets, situated inland from the more expensive Atlantic Coast along Florida's Turnpike, about 100 miles north of Miami — nearly doubled in population from 88,000 in 2000 to 151,000 in 2007. Three biotechnology institutions opened in the county. But then the foreclosure crisis struck and the economy went south. Many people soon realized they had bought more house than they could afford. The county had more than 10,000 foreclosures last year, up from 4,165 the year before. Unemployment stands at 10.5 percent, more than double three years ago. The newly out-of-work have been showing up in large numbers at St. Lucie Catholic Church, where free dinners are served every Thursday night. The church began serving meals to about 35 people a year ago. Last week, there were 175. "We even give them a little bag to take home to try to help them through the week," said volunteer Karen Cuevas. "But we can't give out too much because we're not getting as much in."