Property values nose-dive in Orange County

This is different from the 1974/1975 recession. Back then the governments were flush with money as a lot of new property was added to the tax rolls. Something is fishy here. Did our local governments set future spending on projected tax revenues increases before they actually come in?

Of course they did

Rubbish! It's all rubbish! Don't believe these scare mongers. Why, just today, I read that the prices of homes in Orange county rose by 25% last month - and sales are very brisk - yes, brisk is how they put it.

And jobs too - lots of jobs are being created by all this boom - everything is getting back to normal and soon folks will be sending in their tax money too - promise.

Sounds like the proper time for a good housecleaning of local government payrolls. The government, in theory, exists to serve the people and therefore hire workers as needed to perform certain required services, not act as a guaranteed job provider or patronage system agency.

As property values rose so quickly so did government spending. Not much of a thought about putting the excess into savings. We voted these losers in and so now we are also losers.

This is old news.

Sux to be a home owner right about now. Losing money hand over fist. I am VERY glad I rent. :)

Seems like every government agency is going to be hurting for money. Except, of course, for OUC and the Expressway Authority! They just keep raising rates to ensure that their bloated payrolls and overly-generous employee benefits programs won't suffer a bit.

For those who are duped by media hype the reality is that this world wide depression is going to last for years and is going to pick up speed. House prices are going to drop 50% or more in many of the "hot" areas Florida especialy. Watch what happens in California because as California goes so goes the nation.

history repeating wrote:

This is different from the 1974/1975 recession. Back then the governments were flush with money as a lot of new property was added to the tax rolls. Something is fishy here. Did our local governments set future spending on projected tax revenues increases before they actually come in?

The proverbial chickens have come home to roost. The local politicians all projected growth and property values to continue into infinity, they bet your and my future on it. They encouraged third world loser poverty stricken people to move here. They gave em houses for 200-500K without any documentation whatsoever, No speaky english, no problemo, get a job in construction wiring houses and doing sheet rock for 15-20 per hour. Get a overpaid job with the local governments, they hired all kinds of worthless no goods, dont believe me go to a tag agency, try to pay a ticket or park your car downtown.

Guess what? The decent hard working taxpayers moved away, housing values fell, foreclosures rampant, downtown condos in default.

As Dyer put it we are gonna be world class. We are world class alright, world class idiots for electing these short sighted ignoramuses with their high dollar political allies.

The place is ruined now, dont even look back, it will NEVER BE DECENT AGAIN, crime SIXTH in the nation, SIXTH, Boy Im sure the attractions are happy about that, ought to bring in lots of tourism!

home values need to crash and burn
down to where they should be. when it
comes to money, don't believe absolutely no one.(money=lies)

Property value might nose dive but I bet you that property taxes sure as Hell won't.

The City of Orlando's projected deficit has increased by $3M.

The Mayor gave $6M to help open the Plaza movie theater just three months ago.

Thanks Buddy.

Property values for East Orlando single family homes have gone down 24% from Jan 08 to Jan 09!

6 for 2 and Clayton Bigsby must be democrats with their negative predictions. They must like Rahm Emanuel who says do not waste an opportunity. Some of us are old enough to have seen this before. For those of us with a good education and skills we are not being hurt. Columbus, Ohio received stimulus money and still is about to lay off 300 police. In NY the southern Manhattan areas around Greenwich Village and Tri-Becka areas have had a 43% increase in crime this year. Rochester NY is too small to qualify for cities ranked for crime but they have had more murders than Orlando last year and this year. Pick one of those cities and move.

I wonder why? Look around, I wouldn't buy a home here in Fl. either there is way Too much crime! A lot of people bring down their own property value by not caring what it looks like & won't take care of it.

Grenadine wrote:

Property value might nose dive but I bet you that property taxes sure as Hell won't.

LMAO!! You're right! they won't.

Grenadine wrote:

Property value might nose dive but I bet you that property taxes sure as Hell won't.

This is why everyone needs to apply for a review and a lower property tax from the apprasiers office. They won't lower it without property owners contesting these inflated values. Look at your neighborhood and see how much the prices are being slashed just to get a sale. I will bet it's a lot.

I love it you scuumbag politicians have to live within your means now JUST LIKE THE REST OF US.

Should not have gotten greedy when property values rose and you took in all the extra revenue to waste. And didnt lower rated either.

Greedy bastards now all you do is try and scare us with "OH WE ARE GOING TO LOSE POLICE AND FIRE SERVICE"

Deal with it!

"Our unions had been beating us up..."

General Motors and Chrysler can say the same thing.