So let me get this straight, the City of Atlanta gorges itself on taxes rom properties that soar in value while increasing services and jobs for nephews during the housing boom. Then, when the bottom falls out of the market, it not the city’s fault, but the fault of the mortgage companies that Atlanta is broke and has over spent themselves?
Now they want to sue the mortgage companies o get lost tax revenue, because the mortgage firms lent to people that got foreclosed upon? The citizens of Atlanta should sue the Atlanta elected officials who squandered the surplus in the tax revenue that came in the door during the boom.
Interesting article – follow it here.
Source: The Real Estate Bloggers
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