In what can only be seen as predictable home sales continue falling and reach a 16.5% loss over last year same month sales for March.
Home owners are seeing more foreclosure properties hit the market as people try to get out of homes that they feel may come under foreclosure soon. All of this and a record over building by new home manufacturers in the past three years has taken a toll on all people concerned.
As of now we have not heard of any plans by local governments to reassess homes at their lower value for tax reasons. Most local and state governments are already feeling the hit from the housing decline and taxes paid on real estate are not something they will easily let go.