We're Number One! We're Number One!
Break out your foam #1 fingers and chant it with me everybody! We're Number One! We're Number One! We're Number One!
It's true! According to the S&P/Case-Shiller U.S. National Home Price Index released on Thursday, Tampa/St. Pete/Clearwater had the biggest home price drop among 20 cities for the year ended September, 2007.
Chant it again, just for fun ... We're Number One!
Tampa Bay's 11.1-percent price decline was more than twice the national average of 4.9-percent. We gave those other cities a good old-fashioned tail whippin', didn't we?
Chant it louder: WE'RE NUMBER ONE!
All this on top of the recent good news from Zillow.com that real estate prices here have dropped 13.1-percent over the same time period.
Let me hear youuuuuuuuu ... WE'RE NUMBER ONE!
All is not fun-n-games however. The study did report that home prices here have more than doubled since the year 2000. Of the cities studied by Case-Shiller, Charlotte, NC, Portland, OR, and Seattle saw prices increase in the last year. Those poor folks just don't know how to play the real estate game, do they?
Perhaps they need some coaching from some of the folks who made us the biggest losers in the nation. Coaches like ...
... All those tax assessors and elected officials who drove taxes up to unheard of levels thus making it difficult for many people to afford housing today. We should also congratulate them for their inability to come up with a workable way to reduce taxes.
... A tip of the coaching hat has to go to Mother Nature who brought us numerous hurricanes, thus giving greedy insurance companies the needed excuse to put premiums at equally unheard of levels while dropping coverage from thousands of homeowners and forcing the State of Florida to become an insurance company, a task for which it may not be well equipped.
... Let us not downplay the coaching efforts made by your friendly neighborhood mortgage bankers and brokers who never saw a loan application that couldn't qualify for some kind of mortgage. This coaching technique has resulted in today's flood of foreclosures in a market already oversaturated with property for sale, thus driving prices even lower.
... And last but not least, give a "Coach of the Year Award" to all those real estate speculators who were actually willing to pay those inflated prices for overvalued real estate -- their contribution to our being NUMBER ONE in value loss today can not be ignored. As a reward, just start running laps. We'll tell you when to stop.
So lemme hear it! WE'RE NUMBER ONE ... WE'RE NUMBER ONE ... WE'RE NUMBER ONE!
For more information about real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
It's true! According to the S&P/Case-Shiller U.S. National Home Price Index released on Thursday, Tampa/St. Pete/Clearwater had the biggest home price drop among 20 cities for the year ended September, 2007.
Chant it again, just for fun ... We're Number One!
Tampa Bay's 11.1-percent price decline was more than twice the national average of 4.9-percent. We gave those other cities a good old-fashioned tail whippin', didn't we?
Chant it louder: WE'RE NUMBER ONE!
All this on top of the recent good news from Zillow.com that real estate prices here have dropped 13.1-percent over the same time period.
Let me hear youuuuuuuuu ... WE'RE NUMBER ONE!
All is not fun-n-games however. The study did report that home prices here have more than doubled since the year 2000. Of the cities studied by Case-Shiller, Charlotte, NC, Portland, OR, and Seattle saw prices increase in the last year. Those poor folks just don't know how to play the real estate game, do they?
Perhaps they need some coaching from some of the folks who made us the biggest losers in the nation. Coaches like ...
... All those tax assessors and elected officials who drove taxes up to unheard of levels thus making it difficult for many people to afford housing today. We should also congratulate them for their inability to come up with a workable way to reduce taxes.
... A tip of the coaching hat has to go to Mother Nature who brought us numerous hurricanes, thus giving greedy insurance companies the needed excuse to put premiums at equally unheard of levels while dropping coverage from thousands of homeowners and forcing the State of Florida to become an insurance company, a task for which it may not be well equipped.
... Let us not downplay the coaching efforts made by your friendly neighborhood mortgage bankers and brokers who never saw a loan application that couldn't qualify for some kind of mortgage. This coaching technique has resulted in today's flood of foreclosures in a market already oversaturated with property for sale, thus driving prices even lower.
... And last but not least, give a "Coach of the Year Award" to all those real estate speculators who were actually willing to pay those inflated prices for overvalued real estate -- their contribution to our being NUMBER ONE in value loss today can not be ignored. As a reward, just start running laps. We'll tell you when to stop.
So lemme hear it! WE'RE NUMBER ONE ... WE'RE NUMBER ONE ... WE'RE NUMBER ONE!
For more information about real estate in the Tampa Bay area, visit my website at http://www.thestpeterealestatesite.com/.
-30-
posted by Terry Ward at 3:41 AM
1 Comments:
Ouch. But you are right. The perfect storm from the first three "coaches" you mention got Tampa where it is. Now who is going to come off the bench and fix it???
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