ok , ? about housing prices

[still afloat]

ok , if I understand correctly the banks artificially inflated the value / appraisals of homes , loaned money to people who could not afford them then sold the loans which then failed ?

Now if I'm even close in that does that mean that the property taxes we have been paying on our homes over the # of years we owned the houses has been over charged as the true value of the houses in the us is much lower since the property values are based on the selling prices of similar homes in the area around you and their prices were inflated giving an artifical raised value to yours increasing the taxes . Now is every property owner intitled to a tax refund for the adjusted value of their home for the past years paid in to the gov. ?

That added value also would have added additional $ to the amount of insurance paid also so does that mean we should also get a refund or credit back on the over payment there as well ?

[ajrocks]

I heard on nj1015 - talk radio in nj that because there were so many properties that people have walked away from or foreclosed on that corzin/ local towns are going to have to raise taxes....Not sure why all the homeowners won't stop this!

As a side not the powers to be in nj are a bit stronger teachers union is very influential... heard a town that said no to a new construction for a school, town voted it down then the union or state whoever came in and said no you can't stop this we need it and overturned the ruling!

I'm amazed the town didn't attack the council! the sheep role over here in the great garden state!