Northern Florida is now awash in foreclosures due to a sluggish real estate market, sky high property taxes, and massive insurance premiums. As NC counties are quickly jumping on board with new real estate tax proposals they should bear some of this in mind.
In Okaloosa County,
foreclosures jumped by nearly 70 percent from 2005 to 2006. And if the
foreclosure rate maintains its current pace, the total in 2007 will be
83 percent higher than 2006.
Now is a great time for NC to start looking at ways to control government spending and regulations.