According to today's Free Press,
After decades of double-digit growth in property values of residential, commercial and industrial properties, Oakland County's assessed value rose by a mere 1.17% in the past year -- the smallest margin in nearly 40 years.
Knollenberg's positions on economic issues favor the super-rich, but hurt middle-class families. When the economy is strong, it can handle bad policy decisions without having as much impact on families. But eventually these bad policy decisions will have an impact -- and they always hurt middle class families the most.
Joe Knollenberg's Economic Policies Hurt Middle-Class Families.
3 comments:
Fealk-o-nomics. Kind of like Freak-o-nomics.
Hmm. This post points to property value statistics as its sole mode of reasoning, and blames Knollenberg for the decline without any context.
I guess if its a bad statistic, Joe is responsible for it.
Since there is no time differentiation, one might blame it on the House Dems. But we obviously know this is tied to larger trends in Michigan's economy and that would be as much bullshit as this post. But wait, 49 other states don't have this problem, and Joe was part of the majority at the time influencing federal policy. Hmm. It seems that we need to look to state policy makers. Wait - there's a Democratic governor that's been in charge for 5 years, who, in fact, told us we would be "blown away" in five years.
Well, it seems we are blowing away now, with more people leaving the state than arriving, and that's a sure sign of causality for a depressed housing market. There's more houses in supply than in demand, and that's going to reduce property values.
The reason this state is in such bad shape, besides the fact that the auto industry is in trouble, is not Governor Granholm's fault. She was given a mess by Engler and the Republicans in the legislature are fighting her tooth and nail to get her to look bad. They don't care enough about this state to invest in it -- they just want to cut, cut, cut. We've already cut so much, soon there will be nothing left. At some point we need more revenue to stop the bleeding, retain important services and start making some headway into new industries. The governor has a plan, but she's been blocked every step of the way.
The major decline in the housing market is a national crisis.
Take a look at some recent NATIONAL headlines from this past Friday:
Subprime mess - no easy fix (money.cnn.com)
Debate on lenders' foreclosure role (msnbc.msn.com)
Foreclosure Activity Increases 7 Percent in March (biz.yahoo.com)
U.S. Foreclosure Filings Up 47 Percent From Previous March (quote.bloomberg.com)
March Foreclosure Report (efinancedirectory.com)
Overcharges run rampant in house loans (mortgage101.com)
Builder D.R. Horton 2Q Profit Tumbles 85 Percent (biz.yahoo.com)
Housing Bust Meets the Equity Blues (bloomberg.com)
Fed gets oversight of mortgage lenders (investmentnews.com)
Houston house sales slide for first time in three years (news.moneycentral.msn.com)
Please don't repeat MIGOP talking points about a state-only recession. That is simply wrong. I realize that just because it is false doesn't stop Republicans from chanting it, but unlike the MSM, we will challenge false assertions on this site.
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