Metas
Real Estate News - 02/21/07
FLORIDA REAL ESTATE PROPERTY TAXES
Lawmakers in the state House of Representatives are ready to lower Floridians’ property taxes – by raising the state’s 6-cent sales tax by 2 to 3 more pennies and making it the highest in the nation. Increasing the sales tax may result in a greater portion of low income households paying a higher percentage of their income towards the sales tax. And further cause more issues with having enough workers to fill entry-level positions in many support positions within the various companies through out the state.
HOME CONSTRUCTION COSTS
Supplies of cement and other key construction material stabilized or increased within the past year, easing concerns about escalating costs for home builders and commercial-construction companies. Even in Florida –"a black hole" for cement consumption historically – consumption dropped during the final months of 2006. Could another reason for the easing of key construction materials be due to 2006 being a quiet hurricane season as well as due in part to the slow down for construction of new homes?
HOME MORTGAGES
The implosion of the subprime mortgage market should be a reminder to commercial investors about the risks of lax lending standards. Yet many commercial lenders continue to dole out risky loans to borrowers with weak financial prospects, or more widely allowing loans with limited or no covenants. This kind of sounds like closing the gate after the horse escapes. The ease of obtaining loans for home purchases has been way too weak for the past fews years. In fact, the state income loans, as few years ago were called "inflated income loans." Today, many are calling them "liar loans." With recent legislation and the IRS’s cooperation, maybe some of the liar loans will be stopped dead in their tracks.
Comments
Got something to say?