Milford's Home Values Holding or not?

Today the National Association of Realtors announced sluggish home sales due to the Credit and Lending markets being in turmoil. The National report indicated the average U.S. home price to be down to $211,700 for Q3 2007. at the end of 2004 the median home price in the U.S. was $221,000. This is apx. a 5% decline over the last 5 years.

These numbers are deceptive however, because they do not factor in what the U.S. dollar is worth in this global economy. When we factor in the value of the dollar five years ago we can clearly see the dollar declined in value against other major currencies. A decline in excess of 55% in real world Global economic value. When we consider this figure it is simple to see that the average U.S. home plunged to the equivalent of $95,265.00. While this may seem irrelevant to you, it is a real attractive deal for anyone buying a U.S. home in Euros. This is the true economic and masked deception the global economy uses to fool us into believing our markets are "Holding on."

One may wonder how did this happen? The answer is simple, it boils down to U.S. monetary policy, and the reliance on the Federal Reserve to print money out of "thin air" to pay our bills. America is the largest debtor nation on the planet now owing in excess of 9 Trillion, and some believe that we can no longer continue without debasing and counterfeiting money to pay bills. Greenspan, Walker of the GAO, and the IMF, have all indicated that the dollar is in trouble. There is even talk of America using a north American currency called the "Amero" to solve these problems.

Meanwhile, if you are a globalist America has just robbed the Global value of your home by debasing our currency on world markets. This practice, is not expected to end soon because our Political leaders at all levels of government continue to spend like "Drunken Sailors." The debased currency is fueling a cycle of inflation that is making every leader in America scramble for new and innovative ways to grab your last few bucks in new taxes. In short this is one part of Real Estate Globalism our leaders would prefer you not focus on.

Now lets talk a bit about our home values in Milford right here in town. The National Association of Realtors has listed the average home in Milford to be up 1.5% over the last five years. This I suppose is good news because the entire North East is down 10% comparatively. While we have seen the values of our homes go up and and down over the last few years we are now settled at $297,000. In 2008 The average homeowner will pay $4,653.00 in property tax. This also translates to a per capita tax of apx. $2,550 or your personal share of the city tax burden.

According to CRC a city profile research company the debt obligation per citizen in Milford was $1,888.00 in 1999. When we look at the debt growth due to State and national monetary challenges we soon realize that our personal tax obligations increased at apx 4.25% per year compounded. As compared to the CPI(Consumer Price Index) a figure used to asses normal economic inflationary cycles, this figure outpaces normal inflation for the Northeast by an estimated 1%. This would indicate to me that the city has adjusted its annual budget to meet the obligations of the existing services. The city has not cut back, and cannot cut back without eliminating jobs and or departments and services to alleviate tax burdens. Our Mayor Richitelli has held the line, but has not shrunk the size of the local government of which may be a bad idea since Milford is the largest employer in Town.

With these figures it is my opinion that any Mayoral candidate who states it is possible to cut taxes without compromising services, or city jobs is simply deceiving, not telling the truth, or has no understanding of the CPI relative to the City's tax needs.

Part of my campaign has been to promote and expand the ailing tax base. I believe that the best way we can rid ourselves of this Real Estate Tax Rut is to expand local commerce and encourage commercial development. The city also needs to audit frequently non contract labor, while ensuring new contracts are really beneficial and cost prudent. Lastly, we need to demand our Federal Income Tax dollars be apportioned back to us as the law requires. Not one cent of our Federal Income Tax helps a Milford resident with their personal tax burden. To learn more about this tax fraud read the Reagan era report issued by the "Grace Commission." Nothing has changed since then, other than we now have U.S. Congressman Ron Paul telling us the IRS is still not acting legally and should be eliminated.

On the state level I think CT should adopt a position of states rights, including distancing ourselves from the ailing "greenback." I believe that CT should issue its own statewide currency in the same manner that the "Berkshare Note" was issued in New Hampshire. With the constant and continued dire warnings of a debased dollar, CT has been more than warned. Creating an aggregate currency might be a good security measure for CT, so long as that new currency is not backed by the Dollar itself. It should also serve the purpose of hedging against the now struggling dollar. CT has last printed its own currency in the late 1800's in New London. If New Hampshire is able to have its own currency than I believe CT should be able to as well.