Real Estate 1995-2004
By John Schroy, on February 28th, 2006 | 
Over the decade 1995 – 2004, the market value of US residential real estate increased, on average, about 10% a year. The imputed value of land as a percentage of total residential property values, rose from 25% to 38%. The older the city, the greater the burden unionized public servants will be on local property values.
State and Local Government liabilities with pension funds (Q3 2005) totaled US$2.7 trillion, and this is probably understated.
Whereas citizens cannot escape federal taxes, they can run from state and local taxes by moving to lower-tax areas — ‘voting with their feet’, as it were.
Investment 1995 - 2004
By John Schroy, on February 27th, 2006 | 
In 1995, US households held similar amounts of assets in home equity and corporate stocks: US$ 4.3 trillion in stocks and US$ 4.7 trillion in home equity. Over the decade, the situation changed dramatically, so that by 2004, households held US$ 4.8 trillion more in home equity than in corporate stocks.
This difference came about because of the crash in the stock market in 2000-2001 and because of the steady increase in home values throughout the decade. Low interest rates and easier terms on home mortgages pushed prices of residential real estate upwards, while individuals favored indirect investment in stocks through mutual funds over direct holdings.
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