Monday, April 09, 2007

Housing slump hits states where it hurts

The New York Times reports that many states, including California, are facing lower property tax revenue because of the slump in housing prices:

“State tax revenues around the country are growing far more slowly this year and in some cases falling below projections, a result of the housing market slowdown that has curbed voracious spending on real estate, building materials, furniture and other items.”

For the full story, click here.

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