This is something that would NEVER expect to hear. “Greenwich is the worst housing market.”
Here’s a drive down Greenwich Ave in the middle of town. Now I haven’t been down Greenwich Ave in at least 15 years. I Haven’t had a real need to go there and there are no shops on the Ave that I want to visit, so why go. Still it’s amazing how little it’s changed since I moved out of town in 1991. Still too much wretched excess. Thanks to zoning and the fact that the town is close the train to NYC I don’t think that things will change very much.
Now I grew up in Greenwich. In all the time that I lived there, house prices only went in one direction, up. That seems to have changed. Apparently the economic issues that are hitting the rest of the state are hitting Greenwich as well. I’ve posted about those issues before, with more coming.
Still when you see the signs of decline in place that heretofore you thought were relatively immune the reality of how deep the problems are become clear. The fact is that the state is eating itself and somehow our elected officials don’t seem to understand that there may be no crawling back unless truly radical changes are made. It’s not just Connecticut. As the following post from the Powerline Blog shows, it’s most or all the blue states. Every single one is losing population to more red states. More importantly the businesses that are the source of jobs and revenue are probably leaving even faster.
If things keep going in current trends, the blue states are going to be up a creek without the obligatory paddle. They will have made too many promises and the people who are supposed to pay for those promises and debts, all too often made in back rooms will just fade away, leaving nothing more than a empty husk where there was once prosperity. This erosion has been going on one way or another for my entire life, but Connecticut, at least had been avoiding dealing with the consequences of that until fairly recently. The bill, at last has come due and all the bad polices have come home to roost. Hopefully, we can change things before things get even worse, but right now, that’s a slim hope indeed.