Apparently there is some use to AOL, after all. The homepage I can never remove has an article today about the stagnant housing market. Actually, “stagnant” is probably an understatement, give the sort of harsh words afloat on the subject. While some cities like Phoenix and Salt Lake City have not outright tanked yet, in some cases showing marginal progress from the past year (2007 will have been the last “good” year for people in this industry), all the prestige, high-value property on our coasts has proven nearly impossible to sell, even at some of the steepest discounts seen in my lifetime.
In Florida, where citizens were joking as late as last year that the state bird should be the building crane, the game is already over. Crist’s property tax cuts failed, inciting budget shortfalls statewide, to the point that they were rolled back in Jacksonville within a matter of weeks.