Really! Is it really that bad out here in Colorado Springs Real Estate? Fox News reports on June 15, 2011, that the housing collapse is worse than the Great Depression. They feel that the market will continue to free fall. Their figures show prices have dropped 33% from the peaks of 2006. Is this really true?
Here in El Paso County, prices have dropped 25-30% since 2008. What the Fox News and many fail to realize is that the market was artificially inflated at least that much. What the article also fails to point out is home affordability and interest rates are at near record levels. Rates today were at 4.5%. Home prices have returned to 2004 levels. That’s good news for buyers. Folks who paid for a home in 2005 and later are hurting. We all paid based on supply and demand. Jobs were plentiful.
While the economists want to blame Real Estate for our economic troubles, we need to blame companies and government. Why was there a tax credit to buy gas guzzling big cars? Why do we allow companies to send jobs overseas and then not charge them extra tax? Why do we support so many countries that never do anything positive for us? Why do we feed other countries homeless and leave our homeless to suffer?
It’s easy to say tax the rich, but it needs to be based on building the country not subsidizing it. Make these companies work local. Quit funding other companies and create government programs for our jobless to build better roads and infrastructure. Quit giving tax breaks to companies who don’t do business here. Tax them not us!
In one way I think I should run for government office, on the other had it’s so steeped in corruption there is no way to win.