Property taxes are sky high and slated to double over the next five years. Heating/cooling costs have already doubled. Insurance, if you can get it, has tripled in cost.
Interest rates are historically low, but what does that have to do with property values? If a house is worth $200,000 with a 7% mortgage, why do people think it's worth more with a 5% mortgage? If a car is worth $20,000 with a 5% loan, what makes it worth $30,000 with a 0% loan? Greenspan's gift of low rates was supposed to help us reduce our debts faster (more cash available each month to pay down principal). Instead, the arithmetically challenged engaged in a frenzied pursuit of tax-free cash. PREDATORY BORROWING. Now, bankruptices and foreclosures are at all time highs. Last March, the MCDA/CPED sent RFPs to 45 real estate developers soliciting proposals to redevelop Cedar-Lake. Only one developer responded - Steve Minn, et al. This tells me that either a "fix" is in, or the 44 other developers don't want to build in Minneapolis. Bad news either way. Is it too late to repair the financial damage that's been done in Minneapolis? Don't know - but I'm not hanging around to find out. City Hall hasn't done anything to increase my confidence. Spending is out of control and the City continues to give millions of dollars to insiders for deals that make no sense. "Thrift is of great revenue." - Cicero Vicky Heller, North Oaks Cedar-Riverside (Work) REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
