The Economy: Is There Realism in Coral Gables?
November 5, 2010 Leave a comment
The few points increase in the stock market in the last few days (evidently not caused by the Republican wins, but by the decision of the Fed to expanding the money supply) and a slight increase of 150,000 new jobs (an economist said it would take 15 years to get back employment lost in the recession at that rate) should not give us any hope for anything but a slow economic recovery. Wake up Coral Gables, property values are not going to increase, and still may fall in the months and years ahead.
City of Coral Gables’ budgets, taxes and spending should be constructed with the realistic understanding that the real estate market is not going to save the city’s budget and the taxpayers are at the end of their ability to keep paying more and more taxes.