I love the folks who bitch and moan when the real estate market bombs
in their local and they all claim to have "lost $x million" when in
reality they have NOT lost anything unless the property value NOW is
less than they paid for it originally.

Saw an article on a guy crying the blues that the bottom fell out of
the real estate market, and his home that he paid $50k for back when
is not ONLY worth $100k, instead of the $1mil+ that the crazy market
had valued it at. Should have sold it when it was valued at $1+mil or
shut up

John

On Sun, 3 Oct 2004 19:04:26 -0500, "Swingman" wrote:

"Wes Stewart" wrote in message

Alternate reality indeed.

The "tax spenders" are lovin' the hell out those valuations. Ever since we
got an autonomous "property appraisal district" here, the valuations have
gone through the roof. 110% in the last 7 years.

Politician's can lower the tax rate a measly tenth of a percent to make it
look like they've done something, knowing full well the inflated appraisals
will kick the actual tax paid by 10% a year.