Be Careful Coral Gables, The Future is Very Uncertain–No Time for More Debt

Le’t hope that the commission and city manager of Coral Gables think hard again about the city’s economy and the need for more debt at a very uncertain time.  Paciencia!

Even the optimists are nervous about the next few months. It’s possible that some of the gloomy data reflect excessive caution ahead of several key events: The end of the Federal Reserve’s asset purchases, the resolution of the U.S. debt-ceiling soap opera, the resolution of Europe’s fiscal disaster, and the ability of the developing world to achieve its soft landing.

If all of those go well or even just OK, the future might look a little brighter at the end of the summer. And if they don’t? We may look back on this spring with fond memories.

via Will the economic slump last? MarketWatch First Take – MarketWatch.

See a History of House Values: Prices are Falling Again

See this very interesting graph showing the change in the housing price index in the US.  You will note that it is still heading down and this should be reflected by further declines in property values and problems for local government that depend on property taxes.

Note: This chart has been liberally copied without identifying either the source or author. If you see this elsewhere on the intertubes, you should recognize that it was created by Steve Barry, and is originally published here at TBP.(http://www.ritholtz.com/blog/2011/04/case-shiller-100-year-chart-2011-update/)

URGENT: Weakening Citizens’ Challenge to Local Development Decisions

I bring this matter to your attention, and especially to those who are concerned about ensuring organized community development and protection of the environment.

Please Call the Members of the Senate Environment and Preservation Committee and Oppose SB 1122
April 1, 2011

Senate Bill 1122–Your calls are needed to oppose the damaging Senate Bill 1122. While this bill establishes Alternative State Review as the amendment process and keeps language more favorable for citizen challenges to inappropriate local development decisions it still has a number of damaging provisions. It eliminates Rule 9J-5, thus eliminating years of favorable legal rulings regarding citizens’ rights to challenge local development decisions, urban service boundaries and other critical issues. It removes local government authority to require supermajority votes on development decisions, and has numerous other provisions of concern. Click herefor technical comments on the bill. Please call the members of the Senate Environmental Preservation and Conservation Committee and tell them to oppose this damaging bill which undermines Florida’s growth management process.

Senate Environmental Preservation and Conservation Committee

To find out more about what’s happening this session, please visit 1000 Friends atwww.1000friendsofflorida.org.