The other day, someone asked me if I thought property taxes were still an appropriate way to fund education. Although I have an opinion on this question, I didn't respond. But the question started me thinking about how the current economic situation will affect education funding. About the only folks that haven't heard about the collapse of a housing bubble nationwide are folks living in caves in the Himalayas. Housing prices are falling in every market in the country, and the big question is how far will they fall. Some analysts believe the bubble started just after 2000-2001. One analyst I read recently says the "bubble" has been building since the Johnson administration, another says it started in the 40's. Here in Utah, prices have fallen at least 20%. Looking at the US Census Bureau's housing price data, it isn't hard to make a case that the numbers will fall quite a ways. Inflation adjusted median home price, nationwide, in 1940 was $30,600 (2000 dol...
A compendium of thoughts, ramblings and rants from a 50 year old father of 11 children.