Comments on: City Council Punts on Several Agenda Items it's like being there Tue, 16 Sep 2014 04:56:38 +0000 hourly 1 By: Steve Bean Steve Bean Tue, 25 Sep 2012 16:52:47 +0000 “Smith said her resolution affects what the city does with the proceeds. That’s a question worthy of a robust discussion, she added: What do we do with that money, if and when it becomes available?”

That statement doesn’t jibe with the wording of the resolution. An open (as in considering all options) discussion makes sense per Kunselman’s suggestion to broaden it. The limiting language of the resolution doesn’t allow for that.

“[Hieftje] cautioned that the city was not yet out of the woods for the greatest recession in history.”

Thanks for that, John. The housing bubble is still largely inflated, and now the credit bubble has been further pumped up, with a bit more “QE” to come before it bursts. The housing situation will change dramatically if that plays out. The level of defaults and foreclosures will likely dwarf what we’ve seen in recent years. With higher unemployment as well, more young people will rejoin their parents’ households, and more housing will become available if not necessarily more affordable (as lower rents would coincide with lower incomes). In turn, the city may face considerably different challenges than in the past, including wrt affordable housing matters.