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The biggest drop in the value of homes since 2008.
Some cable pundits are saying the housing market isn't a true indicator of the health of the economy (re: Morning Joe), but this may be debatable.
If this keeps up it won't be long before home sellers will be trading their homes for 3 goats and 5 chickens.
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Lower and lower property values means lower and lower tax revenues for local governments. Will they adapt and reduce spending?
Posted by: Ron | May 09, 2011 at 09:32 AM
And it is interesting the local assessors keep increasing the value of homes. Hmmm! They work for the government.
Posted by: Ron | May 09, 2011 at 09:58 AM