I was struck…

October 25, 2010 Leave a comment

…by comments from a real estate expert on CNBC today (sorry I missed his name).  He stated that 20 percent of all house owners/mortgages are under water and another 33 percent are no more than 10 percentage points away from being under water.  He also stated that this will take “many years” to overcome.

Does the city of Coral Gables imagine that rising property values and new construction will save its property tax budget in the next five years?

Filed under Coral Gables, Economy, Housing

Unknown's avatarAbout Stephen E. McGaughey
Resident of the City of Coral Gables; Formerly with Inter-American Development Bank, Senior Environmental Project and Policy Leaders, Agricultural Economics, Forest Sector Projects and Policies, Country Representative Financing in El Salvador and the Dominican Republic

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