Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
Monday, March 24, 2008
Guess When
Guess what happened when. Hint: Event: KB Homes had an unfortunate fire this morning. Story at Curbed LA.
Yeah, well... I'll never have that problem again. From now on, I'm only associating with, living with, and hooking up with guys. Some of who may or may not be paying me to shack up with them. Not that there's anything wrong with that! :)
I posted in a comment on Housing Panic a few days ago, that both my ex-wife and I are currently playing the field for new boyfriends.
Interestingly, only one or two people out of hundreds expressed surprise. Maybe it's because I wax and highlight my hair, get my nails manicured, carry a murse, and would fit right in on any gay porn cover made in the last decade...
As for a new blog, iamfacingostracismfrommyparents.com ?? Sweet... ;-)
After my recent home buying excursion I think we will need to wait two years to get past the seller denial. Maybe it will be easier dealing directly with the bank.
W, There is a wicked acceleration in price and awareness. I think by Sept we'll be able to see when the time to buy will be. This is the summer of free fall. 6 months from now there will be a realization that there are way too many houses especially big nice houses and you can pick and choose. The good news for you is that you won't even have to compete with move up buyers who will be stuck in their tract boxes.
Completely off topic, but I've found a solution for California's budget crisis. All we need is for the price of gasoline to increase to $12/gal. Actually, if the state doesn't want to wait for the market price of gas to go that high they could increase gasoline taxes by $1/gal which would entirely cover the deficit
From the SF Chronicle:
Gas prices drive up sales tax revenue in state
Matthew Yi, Chronicle Sacramento Bureau
Tuesday, March 25, 2008 Printable Version Gas tax revenue and pump prices. Chronicle Graphic
(03-25) 04:00 PDT Sacramento - --
While motorists fume over the skyrocketing cost of gasoline, state officials say the extra sales tax revenue from high prices at the pump is proving to be a boon as California faces an $8 billion budget deficit.
And lawmakers are likely to tussle in coming weeks over how to spend the unexpected revenue.
Sales tax receipts from gasoline have been rising sharply over the past five years - from $2.1 billion in 2003, when a gallon of regular unleaded cost an average of $1.88, to $3.8 billion in 2007, when the same gallon cost $3.12, according to the state Board of Equalization.
If gas hits an average of $4 a gallon this year - not an unrealistic possibility considering that fuel prices rose to an average of $3.63 on Monday - state and local governments could collect nearly $5 billion in sales tax on gasoline.
That would bring some welcome relief to the state's revenue picture, which has been bleak in recent months as the meltdown in the housing market became a drag on the Golden State's economy. In fact, the state's fiscal year-to-date revenues were about $275 million lower than what was expected by the end of February.
The Legislature and Gov. Arnold Schwarzenegger, who declared a fiscal emergency in January, took emergency measures last month that included additional borrowing, delaying certain debt payments, withholding unspent education funds and deferring cost-of-living increases for some welfare recipients.
Still, those actions only cut the looming $16 billion budget deficit in half.
How the state will close the rest of the gap has been hotly debated in Sacramento, Republicans demanding cuts in spending and Democrats arguing for increased taxes.
But a sharp increase in gas prices might prove to be a welcome relief for lawmakers - and is about the only significant revenue source likely to see sizable growth. Tug-of-war over windfall
Much of the revenue from the sale of gasoline is earmarked for transportation, although the governor and Legislature could suspend that rule or pass legislation to dip into those dollars.
"This will be a huge issue because there aren't many moving parts of the budget that are moving up in revenue," said Assemblyman John Laird, D-Santa Cruz, chairman of the Budget Committee.
While as a matter of public policy it makes most sense to keep gasoline sales tax receipts for transportation projects, "we have an $8 billion hole. And if the governor is proposing cutting dental care for adults in California, how does that weigh?" Laird said.
Assemblyman Roger Niello, R-Fair Oaks (Sacramento County), who is vice chairman of the Budget Committee, said he's open to using some of the sales tax on gasoline to help close the budget gap.
"That will be a discussion point, and I think that is perfectly legitimate," he said.
But Assembly Republican leader Mike Villines from Clovis (Fresno County) was more cautious about moving those funds to help ease the budget pain, arguing that the state needs to make fundamental changes in its spending.
Under Schwarzenegger's current budget, only about $450 million of sales tax receipts from gas help pay for general fund spending. The governor's budget doesn't include suspending rules to tap into more of those tax dollars for spending outside of transportation projects, said H.D. Palmer, a spokesman for the Department of Finance. AAA weighs in
Still, at least one transportation association is concerned that those dollars could get siphoned off.
"People paying the taxes should derive the benefit. It shouldn't be a piggy bank that's raided for other services," said Sean Comey, a spokesman for AAA of Northern California.
Delaying transportation projects would have more dire consequences in the future, he said.
"It's kind of like your windshield when you have a teeny crack. It might cost you $50 to fix it, but if you wait, it can get bigger and bigger until you have to replace the entire windshield for $300," Comey said.
While there is debate on how the gas sales tax money should be used, one thing everyone agrees on is that gas prices are likely to continue rising.
Experts and lawmakers say the bump in gas sales tax might come at the expense of lower sales tax receipts from other areas as motorists reduce other discretionary spending.
"I think we've finally come closer, if not reached, a tipping point where gasoline prices are affecting people's behavior," said Bill Leonard, a member of the Board of Equalization. One evidence is the slight decrease in gasoline consumption for the past couple of years, he said.
Judy Dugan, research director at Consumer Watchdog in Los Angeles, argued it might be time to reconsider the sales tax on gasoline altogether because of increasing pump prices.
"The state is certainly stressed and they need money, but to do it on the backs of motorists who are screaming for relief is not the way to go about it," she said.
This should also free you up for some massive focused concentration regarding hosting a house flipping on the LOGO channel.
I pitched an idea to NBC for a reality TV show in which ordinary American citizens vent their frustration about the economy by taking it out on the guy who practically singlehandedly destroyed it -- me!
Each show would end with me dressed up like a piñata, strung up from a tree, and people would whack me until money started falling out. It'd be bigger than American Idol!
Rob, in case you're wondering, I'm still reading, just not commenting as much. My new position is in a semi-official capacity, and the unspecified government organization I work for takes a dim view toward its employees making public comments. Blogs are not (yet) on the verboten list, and as it turns out blogs are a great resource for some of what I do, but I have to be careful about my comments lest "non-public information" slip out. Still, some topics are too good to pass up on . . .
19 comments:
Well, this wouldn't be the FIRST suspicious fire since the housing market went tits up.
But how many have temperature graphs that coincide with stock prices? ;-)
So where will Casey be in 20 years?
http://www.cnn.com/2008/LIVING/03/21/living.with.parents.ap/index.html
check out these losers on CNN today. What a hoot
LOOSERS for sure
h.
Gee, no correlation there! LOL.
Guess who shorted KBH before taking a match and some gasoline to their property? :-)
What's two more felony counts of arson and insurance fraud gonna do when I've already got about 50 other counts on my plate? It's all good...
Casey, at least you don't have a nasty divorce hanging over your head.
Yeah, well... I'll never have that problem again. From now on, I'm only associating with, living with, and hooking up with guys. Some of who may or may not be paying me to shack up with them. Not that there's anything wrong with that! :)
Ohhhh, that's what you meant by "it's all good!"
When will you announce your new status and/or orientation?
I posted in a comment on Housing Panic a few days ago, that both my ex-wife and I are currently playing the field for new boyfriends.
Interestingly, only one or two people out of hundreds expressed surprise. Maybe it's because I wax and highlight my hair, get my nails manicured, carry a murse, and would fit right in on any gay porn cover made in the last decade...
As for a new blog, iamfacingostracismfrommyparents.com ?? Sweet... ;-)
@ Casey Serin,
You may have a case of fire in the hole your ownself if you don't find a steady relationship.
Well Casey, at least G didn't take you for a house. Unlike the other 9 people. Then again, she can change her name and pretend she never heard of you.
This should also free you up for some massive focused concentration regarding hosting a house flipping on the LOGO channel.
Guess that makes it a Win-Win
It's all good.
h.
I feel sick reading these comments.
After my recent home buying excursion I think we will need to wait two years to get past the seller denial. Maybe it will be easier dealing directly with the bank.
W,
There is a wicked acceleration in price and awareness. I think by Sept we'll be able to see when the time to buy will be. This is the summer of free fall. 6 months from now there will be a realization that there are way too many houses especially big nice houses and you can pick and choose. The good news for you is that you won't even have to compete with move up buyers who will be stuck in their tract boxes.
Club sandwiches not seals!
Completely off topic, but I've found a solution for California's budget crisis. All we need is for the price of gasoline to increase to $12/gal. Actually, if the state doesn't want to wait for the market price of gas to go that high they could increase gasoline taxes by $1/gal which would entirely cover the deficit
From the SF Chronicle:
Gas prices drive up sales tax revenue in state
Matthew Yi, Chronicle Sacramento Bureau
Tuesday, March 25, 2008
Printable Version
Gas tax revenue and pump prices. Chronicle Graphic
(03-25) 04:00 PDT Sacramento - --
While motorists fume over the skyrocketing cost of gasoline, state officials say the extra sales tax revenue from high prices at the pump is proving to be a boon as California faces an $8 billion budget deficit.
And lawmakers are likely to tussle in coming weeks over how to spend the unexpected revenue.
Sales tax receipts from gasoline have been rising sharply over the past five years - from $2.1 billion in 2003, when a gallon of regular unleaded cost an average of $1.88, to $3.8 billion in 2007, when the same gallon cost $3.12, according to the state Board of Equalization.
If gas hits an average of $4 a gallon this year - not an unrealistic possibility considering that fuel prices rose to an average of $3.63 on Monday - state and local governments could collect nearly $5 billion in sales tax on gasoline.
That would bring some welcome relief to the state's revenue picture, which has been bleak in recent months as the meltdown in the housing market became a drag on the Golden State's economy. In fact, the state's fiscal year-to-date revenues were about $275 million lower than what was expected by the end of February.
The Legislature and Gov. Arnold Schwarzenegger, who declared a fiscal emergency in January, took emergency measures last month that included additional borrowing, delaying certain debt payments, withholding unspent education funds and deferring cost-of-living increases for some welfare recipients.
Still, those actions only cut the looming $16 billion budget deficit in half.
How the state will close the rest of the gap has been hotly debated in Sacramento, Republicans demanding cuts in spending and Democrats arguing for increased taxes.
But a sharp increase in gas prices might prove to be a welcome relief for lawmakers - and is about the only significant revenue source likely to see sizable growth.
Tug-of-war over windfall
Much of the revenue from the sale of gasoline is earmarked for transportation, although the governor and Legislature could suspend that rule or pass legislation to dip into those dollars.
"This will be a huge issue because there aren't many moving parts of the budget that are moving up in revenue," said Assemblyman John Laird, D-Santa Cruz, chairman of the Budget Committee.
While as a matter of public policy it makes most sense to keep gasoline sales tax receipts for transportation projects, "we have an $8 billion hole. And if the governor is proposing cutting dental care for adults in California, how does that weigh?" Laird said.
Assemblyman Roger Niello, R-Fair Oaks (Sacramento County), who is vice chairman of the Budget Committee, said he's open to using some of the sales tax on gasoline to help close the budget gap.
"That will be a discussion point, and I think that is perfectly legitimate," he said.
But Assembly Republican leader Mike Villines from Clovis (Fresno County) was more cautious about moving those funds to help ease the budget pain, arguing that the state needs to make fundamental changes in its spending.
Under Schwarzenegger's current budget, only about $450 million of sales tax receipts from gas help pay for general fund spending. The governor's budget doesn't include suspending rules to tap into more of those tax dollars for spending outside of transportation projects, said H.D. Palmer, a spokesman for the Department of Finance.
AAA weighs in
Still, at least one transportation association is concerned that those dollars could get siphoned off.
"People paying the taxes should derive the benefit. It shouldn't be a piggy bank that's raided for other services," said Sean Comey, a spokesman for AAA of Northern California.
Delaying transportation projects would have more dire consequences in the future, he said.
"It's kind of like your windshield when you have a teeny crack. It might cost you $50 to fix it, but if you wait, it can get bigger and bigger until you have to replace the entire windshield for $300," Comey said.
While there is debate on how the gas sales tax money should be used, one thing everyone agrees on is that gas prices are likely to continue rising.
Experts and lawmakers say the bump in gas sales tax might come at the expense of lower sales tax receipts from other areas as motorists reduce other discretionary spending.
"I think we've finally come closer, if not reached, a tipping point where gasoline prices are affecting people's behavior," said Bill Leonard, a member of the Board of Equalization. One evidence is the slight decrease in gasoline consumption for the past couple of years, he said.
Judy Dugan, research director at Consumer Watchdog in Los Angeles, argued it might be time to reconsider the sales tax on gasoline altogether because of increasing pump prices.
"The state is certainly stressed and they need money, but to do it on the backs of motorists who are screaming for relief is not the way to go about it," she said.
This should also free you up for some massive focused concentration regarding hosting a house flipping on the LOGO channel.
I pitched an idea to NBC for a reality TV show in which ordinary American citizens vent their frustration about the economy by taking it out on the guy who practically singlehandedly destroyed it -- me!
Each show would end with me dressed up like a piñata, strung up from a tree, and people would whack me until money started falling out. It'd be bigger than American Idol!
I call it "Casey at the Bat". :-)
Winston, Excellent! I approve of regressive taxation. And cloaked in environmentalism too.
Rob, in case you're wondering, I'm still reading, just not commenting as much. My new position is in a semi-official capacity, and the unspecified government organization I work for takes a dim view toward its employees making public comments. Blogs are not (yet) on the verboten list, and as it turns out blogs are a great resource for some of what I do, but I have to be careful about my comments lest "non-public information" slip out. Still, some topics are too good to pass up on . . .
PV,
I was wondering or thought maybe you were bored with my deliberately slow pace of late.
You know how to contact me if there is ever any information that has to slip out with absolute anonymity.
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