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| Re: Has twilight come to the Sun Belt? (455902) | |||
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Re: Has twilight come to the Sun Belt? |
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Posted by Orange Blossom Special on Sat May 30 18:37:28 2009, in response to Has twilight come to the Sun Belt?, posted by Dan on Sat May 30 16:49:23 2009. "The sunbelt will rise again. Florida pratically invented the boom and bust real etstate cycle and it's still there. Same for Texas and oil booms and busts. Meanwhile NY, NJ and CA keep raising taxes on the productive classes."Don't even bother reading the AP. Your opinion is right. I travel the state, and I look at all the fancy hotels and the towns and take photos. All of the buildings were built and towns founded in the roaring 20's. The real estate appreciation was said to last forever. It busted in 29. I go downtown and the beaches, and i look at all the new condo towers and infill. The people who bought those were told the prices would go up forever. It busted in '09. Would you believe the land values were even the same both times? History repeats, you keep raising your taxes a few thousand dollars a year, and while our state's getting stupid, people from Europe to New York come to the South. Factories move to the south. Anybody who says the sunbelt is done, eitehr doesn't mind paying high taxes, have no concept of money and how many flee down here. Because you stop coming, property values will still drop, and the only people fleeing more than northerners are BRITS, and I like the brits. Or they're from 1866 and were wrong then. Sorry. The article isn't actually too bad. It's just too many investors. More people bought houses and condos than people who actually lived in them. |
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