I'll take your word for it. I don't know what it is like in America but technically there is a difference.
I don't know where he's getting his information from, but my area hasn't seen any uptick in prices. Real estate taxes however have gone up 50% since the peak of the bubble!
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Agreed. It's literally "all over the map". Some high tax states have seen a rebound, while others are still languishing. From what I can tell, much of the Midwest is still languishing, while a few of the hardest hit locales like Arizona (maybe Vegas, not sure), rebounded hard off the lows. But like you said, if you live in the wrong place, you not only get to watch your property lose value year after year, you also get the priviledge of paying higher property taxes because the local buffoons can never stop spending. (and the teachers always need a raise). Considering the prospects for the next generation of home borrowers, the best thing to happen would have been to let the markets play out, let those properties collapse...hey, if the original owners didn't have the good sense to cash out at nosebleed prices, fuck'em. The guys who bought at the top, many of them were already in the midst of either defaulting outright, or defaulting strategically , so once again let it play out. But we all know that this country cannot EVEN FUNCTION unless we are the midst of some asset bubble to con the sheeple into spending beyond their means, or leveraging up the hilt to speculate in whatever asset bubble is in vogue. This shit will be the norm until we default, whenever the hell that may come around.