[ex-Texan]

I completely understand. Local government seeks to cash in on the housing bubble. Corruption rules. Talk to Toddboy or Stlyin about the truth if you wish. They have their heads stuck in the sand deeper than ostriches. On purpose. When real estate goes down 40% (or more) they will still be saying it is all an illusion or just a temporary glitch. Of course, they are famous naysayers on FR. Must be involved in the real estate or mortgage biz but they would never admit it. Not in a million years.

[HockeyPop]

Here's an excerpt from a So Fla article today. Homeowners are also getting slapped with skyrocketing hurricane insurance premiums. If the legislators get tough then the insurers will pull out of the state.

"State failures leave policyholders without a net"
By Kathy Bushouse
South Florida Sun-Sentinel

August 6, 2006



Florida's property insurance market is a mess, despite legislators' attempts to fix it for more than a decade.

The price of home and condominium insurance has soared to dizzying levels. Insurers have dumped longtime customers and slashed coverage for others. The state's home insurer of last resort now is the biggest property insurer in Florida.

More and more homeowners and businesses are forced to ponder whether they can afford the Sunshine State anymore.

Much of this is the Legislature's handiwork

http://www.sun-sentinel.com/news/local/southflorida/sfl-zinsurecrisis06aug06,0,7279582.story?coll=sfla-home-headlines

[Oorang]

I'm just north of you (Washington) so somewhat comparable markets. When the glut of springtime "for sale" signs popped up folks in my rural area were saying "$200k for a 20 acre parcel!"; "this house is listed for 800k!", etc. I kept asking "are they selling at those prices?". Everyone looked at me as if I was a dunce. The thinking is the realtor says it will sell for this (inflated) price, who cares about reality. Uh-huh.

[Toddsterpatriot]

When real estate goes down 40% (or more)

Is that going to be nationwide? When will this happen?

Of course, they are famous naysayers on FR.

I see you haven't lost your sense of humor.