Just When You Think Things Are Finally Getting Better...the latest findings show another downturn in home sales and property values throughout our area. When is is going to end? Can property prices go any lower? Regretfully, it appears that there is another wave of foreclosures pending on the horizon that may bring prices even lower. I'm afraid that until we see a real recovery in the local economy there is no end in sight yet.
Moves by the Pasco County Board of County Commissioners to lower impact fees in order to kick start new home construction are ill-conceived and appear to be nothing more than a misquided effort to appease developers and home builders. Common sense tells us that if homes are now selling for less then it cost to build them then why would anyone want to buy a new home?
Once again it appears that Pasco County is going down the same worn out path of believing that our economic future and prosperity must be based on new home construction. That ill-conceived strategy has been proven wrong again and again.
Until we broaden our tax base by attracting business and industry to Pasco County we are doomed to continue to ride this economic roller coaster of new home construction.
We have it backward once again...new home construction doesn't bring high paying jobs and industry... it is business and industry that bring about high paying jobs which then results in new home construction! Thirty years now and we still seem to not understand this basic premise.