Law Makers need to WAKE UP already!
Friday, 12 March 2010 05:37
Although the foreclosure rate across the nation is decreasing, it is increasing in South Carolina. Currently, 1 out of every 649 residential properties are in pre-foreclosure. The county with with greatest number of foreclosures is Greenville with 566. Richland County ranks third highest in South Carolina with 268 and Lexington County ranks sixth with 216 foreclosures.
Statewide, South Carolina had 1216 pre-foreclosures in January 2010 and 1647 pre-foreclosures in February 2010. I suspect a large percentage of the foreclosures are a direct result of job losses rather than home value depreciation. South Carolina Unemployment rate as of Monday of this week is now at 12.6%.
South Carolina Law Makers need to wake up already! Unemployment rates are so high because new business cannot afford to operate in South Carolina due to very high and unfair property taxes. Many homeowners that can make their house payment right now are leaving for other states where they can afford the property taxes. In case you have not figured it out yet Law Makers, one major reason for the massive budget deficits (other than the ridiculous spending by our law makers) is the loss of property tax revenue from foreclosed properties and citizens moving out of South Carolina.
Wake up, tighten your belts, quit spending money we do not have and CUT the extremely high property taxes. We will remain stuck in this endless circle of agony until this happens!!
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