Voters should not be willingly ignorant. An informed voter will make good choices.
I write solely to my fellow City of Rockwall registered voters.
Polls open today for early voting at the Elections Office for city and school district elections. There is a City of Rockwall bond election with five propositions. They’re all good propositions, unfortunately their passage at this time is, I believe, unwise. I will vote NO to all five propositions and I encourage my fellow taxpayers to do likewise.
Our ship of state is moving into unknown waters: looming dramatic tax increases in 2013, unknown outcome of ObamaCare case before the Supreme Court, spiraling inflation, decline of the US dollar and a faltering housing market. In simple terms: we face economic uncertainty.
Today, I write solely about the housing market and my information comes from solid industry sources.
Professor Shiller could be wrong. It’s just that historically, he has accurately predicted housing economics for quite some time. He’s good at what he does.
The S&P/Case-Shiller Home Price Indices are the leading measures for the US residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
Statistically, the Dallas market (including Rockwall) hasn’t experienced as great declines as the other 19 metropolitan areas – at least not from the FIRST wave of mortgage foreclosures. First? Yes, first: real estate investors (folks who buy properties to rent out) expect a SECOND wave of foreclosures. Some market analysts say it began last year, some say this year.
A recent DSNews.com article couched the FIRST wave in terms of displaced children. 2.3 million children lost their homes to foreclosures and now pack apartment complexes. The writer predicts the NEXT wave will displace 3 million children. The Foreclosure Management Company (FMC) describes the next wave as ‘imminent’.
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