Nov-07
17
City of New Richmond excited about new construction
By
Tһе City οf Nеw Richmond һаѕ now approved 51 חеw construction projects. Tһаt ѕһουƖԁ һеƖр bring up tһе equalized value bу аbουt 0.8 percent іח 2008 fοr tһе school district. I predict tһе NRSD equalized value fοr 2008/9 tο increase bу 2.05 percent. I’ll рυt five dollars іח tһе pot fοr tһе person closest tο tһе real value.
AƖƖ rіɡһt уου geniuses, here’s уουr chance. Mаkе уουr guess, bу 12/31/07 οח tһіѕ blog аחԁ bе sure tο mention уου′re іח fοr five bucks. Tο maintain secrecy уου саח send уουr money tο Chris (іf һе accepts tһіѕ position) аftеr tһе official number іѕ out next fall. Hе′ll give tһе pot tο tһе winner.
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I feel almost guilty taking your $5 there BobZiller. I’m going to throw out a number without even hitting the books or calculator. My prediction will be a -2.2%. You read that right – minus 2.2% and come the end of next year, of those 51 newly approved construction projects, at least 35 will still be remaining to start. Is that far enough apart from your numbers? I may modify my prediction between now and 12/31/07, but regardless of the tweaking, I’m still going to predict negative growth. It’s just a matter of how much.
Bob, your post should actually be titled “Bond Salesman excited about new yacht”.
#2 you forgot to enter your prediction.
#1, I don’t know how it can go negative. If a bunch of home owners file bankruptcy, that still leaves the house value sitting there. It doesn’t matter whether the bank or a homeowner owns the home. If the number actually comes out negative, I’ll gladly throw in another $5 for you.
Bob, my prediction is that the new yacht for the Bond Salesman costs $100,000 and the taxpayers of New Richmond go broke.
What you are forgetting #3 is a large number of recent home sales have been going at greater than 20 percent below market value. The new assessed value will reflect this lower selling price – which in turn effects the value of all the other homes in the area. When $200,000 homes are selling for $160,000, do you honestly believe that it will not have any impact on a municipality’s total value? With the way lending institutions are tightening up their qualifications for loans, you’re not going to see the flood of young couples buying interest only mortgages any more. The glut of homes sitting empty is only going to increase and the prices will continue to drop. Your total district value is going down – of that I have very little doubt.
I predict #3 tries to defend his Yes vote on the largest tax increase in the history of Wisconsin until the day he dies using meaningless mathematical calculations.
Kilowatt, if the City of NR had the authority they could simply print money in the basement of city hall and then use that to pay the various contractors to build all 51 projects… In fact, why not do this with the schools? Each school district should be able to print their own money to pay contractors for construction work, that way no homeowners would have to pay anything!
Yup, problem solved…
Thanks flash – now you’ve just given the school district another reason to go out and buy more reproduction equipment and toner cartridges. (There won’t be a safe tree on the lot.)
You make a good point #5. I’ll take you off the unrealistic guess list and put you in as a real contender. I think the ones that haven’t put any money in the pot should knock off the frivolous comments.
It’s interesting that #6 has criticized my calculation without even knowing my assumptions and equations. Great job all knowing one.
You missed the point #9. The fact that you are even working these numbers is MEANINGLESS. I could care less about your methodology. The referendum has passed and the good citizens of New Richmond will feel the pain soon. Meanwhile you will be there with your slide ruler trying to figure out the equalized valuation.