Comment from Lynn Willis, in response to my fear of buying a home given the scary drop in oil prices:
I cannot control what has been done to us by the current crew in Juneau. Remember a single political party has absolutely controlled the House and Governor’s office for the past four years and the entire state government for the last two years. They have hyper- inflated the economy as did their predecessors in the 1980’s and I fear with falling oil prices the state economy will again hollow itself out. You would think they would learn. This time the situation is much more perilous because in the 80’s we had the production levels so we only needed an increase in price. Now we have to realize both increased production and price and that will be much more difficult.
I hope you can afford a home. Perhaps you should wait patiently. I bought a condo in 1983for $83,000. Then the price of oil collapsed and when I moved to Bethel in 1989 and turned it into a rental the fair market value was $21,000. Lost money on that place when I finally sold it but somebody got a deal. Alas, the pressure on the middle class is unrelenting. Yesterday I got notice that another 5% increase to my Enstar charges has been requested and I can add that to over 50% cost of gas incurred over the last year.
Any damn fool can spend money yet that seems to be the chief qualification we want in our politicians and to be reminded that they have those “God given, rock solid conservative family values”. Maybe next time around we should expect more.