In Tarrant County, Texas a three person jury determines the value of real property if the home owner challenges the value assessed by the County Tax Appraiser.Citizens serve on that type of jury like they serve on other types of juries. The county sends various citizens a notice to serve based upon the number of valuation challenges for that particular year.
Why can't that concept be expanded upon and used to stabilize real property values in the commerce of land, homes, and commercial property?
Remember that our current economic catastrophe is a function of the fluctuation of home prices up and then down to the point of disaster. That is anything but stability.
Using the values set by a jury system, price fluctuations will be moderated and localized. If the locals stabilize property values they benefit, if they allow prices to get out of whack they suffer. Locally.
The entire nation would not have to pay a tragic price for the mistakes of a few.
As it stands now, we are all paying a heavy price for mistakes of the few, the bad, the banksters.
The concept should even apply to granting or denying building permits. Overbuilding caused our current catastrophic home price plunges.
Too many houses with too few buyers means everyone loses equity.
People on the jury would be given statistics, facts, value history, and would be given warnings and argument from both sides.
If they make mistakes the penalty is to their area only.
We have already pointed out that the American jury system is not designed to bring perfection, it is designed to stop the wide-spread oppression of government. It works quite well.
In effect when the government takes your home value (through bad policies or lack of regulation) when you have done nothing to deserve that taking, it is a form of oppression. It is a form of eminent domain by stealth .
A jury system would limit fluctuations to local areas and stop massive economic oppression we suffer under current conditions. And as jury expertise and experience grew over time it would bring much more stability than we have now.
Once perfected it would add to the prosperity of all of us.
Some economists are saying that we have been damaged permanently and it will stay that way.
ReplyDeleteKeep at it, Dredd. Maybe find a few other places you feel comfortable at, drop your link, find kindred spirits. Please never give up. You are a natural and are building up a good base of knowledge. There is a need for safe havens like this.
ReplyDeleteI think as an older Generation X dude, I was in the last category of folks who were brainwashed to believe if one played by the rules and tried their best, there'd be a reward. The worst thing about the Bush years was not only that many of us feel the elections were stolen, but that hope was literally taken away.
Never give up hope good people, never.
The last bastion of facade has been punctured. Even our homes aren't worth what they used to be.
There has to be a way to cut down that military budget and put it into humane projects. I am a proud socialist. I don't mind a bit of capitalism but feel nothing less than a redistribution of wealth will hit the spot without rubbing it out.
Perhaps we just have to keep hope alive until some bright kid figures out how to play the game and then wham, the military is cut, good jobs at good wages become available to all.
Food, shelter, and education should be inalienable rights.
The biggest myth going is that we are a rich country. The only ones who can make it are those like Kimberlin who have no ethics.
I've a lot of thoughts mushing around the old noggin'. Before I ramble any more, please keep doing what you do. It does make a difference. More than you may realise.
Socrates,
ReplyDeleteThanks bro.