The High Cost of Elitism

Full disclosure - I'm a Blacksburg resident, have been since 2001.  Now that's out of the way.

Excellent op-ed in Sunday's Roanoke Times regarding the high cost of elitism.  My favorite line (emphasis mine):

"The costs came in the forms of economic stagnation, limited job opportunities, underfunding for the social infrastructure of bridges, roads and schools, and high property taxes."

Hat tip to New River Journal - he's got several good links there regarding the First & Main debate.

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Comments

[TL]

Very much enjoyed your two recent posts on housing market in the NRV. Full disclosure: Christiansburg resident and business owner, VT employee, inactive real estate license, community activist. That being out of the way, when comparing real estate taxes one knows the signficant portion is applicable to county rates. The Burgs differ then on one assessing personal property (as does the county) and the other not doing so, which kind of equalizes the rates. Then it becomes interesting to look at median prices and where market values are decreasing or increasing and speculating on the reason(s) or contributing factors for this. It's also noteworthy, given the cost of obtaining higher education, that our area doesn't retain more of this human capital. Is this due to political environment or economic opportunity, and what are local governments doing to attract and retain this talent pool? Your posts touch on these topics, but again, go further than just local issues to what is happening at the state level and how this impacts local taxes. Don't wait for a year-end analysis; I'd like to see your 3Q08 summary, too, even with the national elections and impending government bail out (call it what it is).

[Jeremy Hart]

Once again, TL, you've made me really think. Call a spade a spade, TL - yes, the bailout of Freddie Mac and Fannie Maw is a bailout, and it's funded by the taxpayers.

I'll work on a third quarter analysis as well, and I'd encourage you to check out the absorption rates that I do every month (http://nrvliving.typepad.com/nrvliving/absorption_rates/). These are just simple supply and demand calculations, focusing on the number of homes for sale vs. the number of homes that sold in the previous month. It's a good snapshot of what the market's doing on a monthly basis, although on face-value it can be hard to see trends (which is why a quarterly and year-end analysis would be good.

It's likely you've heard of Stuart Mease, but if you haven't, I'd encourage you to read his blog (http://www.stuartmease.com). Stuart is an individual who came to Virginia Tech in the mid 90's, got his degree and decided to stay here, eventually putting roots down in Christiansburg. He works for the City of Roanoke on the exact issue of how to keep individuals in the area, or encourage folks to consider the Valley when relocating. Being a Roanoke employee, his focus is obviously on the Roanoke Valley, but he also does a good job of connecting with the New River Valley as well.

Thanks for commenting.