Has the Drop in Property Values Hurt County Budgets in All Areas?
Thursday, November 6th, 2008
In Riverside County California the real estate prices have dropped 50% since their highs in early 2005 and with the real estate prices down that much most people think that the county would be in bad financial trouble, but it is not. You see, many of those homes that sold were new homes that did not previously exist so even if the housing prices dropped 50%, it is 50% that they did not have prior to 2004. Since the country grew a record of 35% during that time it’s still a lot of new money for the county.