CAD being a cad?

OK- just checked out www.realtor.com and today they have 4,312 listings for sale in the El Paso area. So, these figures are close to the high count during the real estate boom that we were supposedly somewhat insulated from. And since the experts say we are somewhat insulated from the failing economy and job loss- why do we have so many properties for sale?

Compared to the rest of the country, 6 or 7 years ago we were definitely below the average median cost of a home. But the cost of living sort of matched- not alot of good or high-paying jobs, so maybe we were closer to where we should have been.

Now many homes here have increased in value up to and over 50% from just a few years back- quite an increase in the tax base! But the jobs haven't followed. Hmmm?

How did these prices get so over-inflated? Who was it that jumped on the bandwagon, and also convinced other industries here that we were a booming town and could absorb such an increase? And just what have we gotten for the money?

Which came first- CAD or real estate speculation? They both feed off each other, so it was win/win for them on paper.

So what exactly HAVE we gotten with all the extra money we paid out in taxes? My roads are no better off, mark my words- I bet within 3 years my street will be on the news because of a sinkhole occuring- the potholes are getting THAT bad! Well, we have a city manager now that's paid a pretty penny (over $200,000), deputy city managers in the good $100,000s, management at Sun Metro in the $100,000s and on and on. We have been progressing from where we were just a couple years back, but were we ready to leap so far so fast? We have so many COs coming up the next couple years for payment it's mind-boggling.

I suggest we El Pasoans that own property all protest with the CAD- every year until we are taken seriously! I also suggest that our city and county government not only keep the hiring freeze but freeze salary increases until they can balance the budget and prove that they can maintain its balance for at least 2 years consecutively. In the meantime can we see a solid plan for bringing business to the border?