I was struck…

…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?

About Stephen E. McGaughey
Resident of the City of Coral Gables

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