I have an easy answer to this subject...
Just take a drive to Pt. Pleasant Beach any day this summer (non rainy
of course)
You'll see tons of people and you will have to pay semi-big bucks
to park.
The boardwalk is packed.
The food vendors are making a killing selling $6 French Fries, $8
burgers and $6 Hot Dogs.
After the daytime fun is done, the beach bars are also packed.
All the people who were smart enough to buy land to use as parking are
profiting. The city is profiting. The retailers etc. are making money.
Meanwhile, the AP beach is still the best kept beach secret around,
with free parking, uncrowded beaches and boardwalk. Lot's of potential
retail and entertainment spaces not really being used, and virtually
no money being pumped back into the city. Not only that, but our
waterfront really isn't providing many jobs for the locals the way the
Pt. beach does.
Sad.
-- In AsburyPark@yahoogroups.com, "Mario" <[EMAIL PROTECTED]> wrote:
>
> [EMAIL PROTECTED] <mailto:[EMAIL PROTECTED]> ., Maybe you're
> right, But I hope this kind of "stability/reliability" doesn't
stall our
> rebirth. I can't find any studies showing tourism less stable than
> this: ============================================= July 9, 2007
> Increasing Rate of Foreclosures Upsets Atlanta By VIKAS BAJAJ
>
<http://topics.nytimes.com/top/reference/timestopics/people/b/
vikas_baja\
> j/index.html?inline=nyt-per>
> ATLANTA — Despite a vibrant local economy, Atlanta homeowners are
> falling behind on mortgage payments and losing their homes at one
of the
> highest rates in the nation, offering a troubling glimpse of what
> experts fear may be in store for other parts of the country.
>
> The real estate slump here and elsewhere is likely to worsen,
given that
> most of the adjustable rate mortgages written in the last three
years
> will be reset with higher interest rates, said Christopher F.
Thornberg,
> an economist with Beacon Economics in Los Angeles. As a result,
> borrowers of an estimated $800 billion in loans will be forced in
the
> next 12 months to 18 months to make bigger monthly payments,
refinance
> or sell their homes....
>
> For example, a three-bedroom house near Turner Field, where the
Atlanta
> Braves baseball team plays, fetched a high bid late last month of
> $134,000 at an auction by the bank that took possession of it.
Almost
> three years ago, the new home was bought for $330,000.
>
> While the surge in foreclosures in other big cities like
Cleveland, New
> Orleans and Detroit can be attributed to local economic challenges,
> Atlanta more closely reflects the nation. Its unemployment rate, 4.9
> percent in May, is low and close to the national average of 4.5
percent.
> And businesses here are adding jobs, albeit at a slower pace than
they
> were last year.
>
> Like others across the country, homeowners here took out aggressive
> mortgages in the last few years when interest rates were low and
housing
> prices were soaring. Now many are falling behind — some have lost
> jobs or experienced other financial difficulties, but many others
are
> not able to refinance because their homes are worth less than
they paid
> for them and their credit is now too weak for them to qualify for
> another loan.
>
> More from around the country: Click here: Increasing Rate of
> Foreclosures Upsets Atlanta - New York Times
>
<http://www.nytimes.com/2007/07/09/business/09auctions.html?ei=5087%
0A&e\
> m=&en=412ed903b6b636c4&ex=1184126400&pagewanted=all>
>
> ====================
>
> No expert here. Just wondering.
>
> Not all entertainment venues need be weather dependent.
>
> ==================================================================
>
> Original message"
> In a message dated 7/9/2007 9:15:26 P.M. Eastern Daylight Time,
> [EMAIL PROTECTED] writes: As long as the local, state, and fed
> government view the taxpayer as a bottomless pit it will always
be this
> way. You remove a the weather variable and add some stability to the
> situation.
>
> dfsavgny <[EMAIL PROTECTED]> wrote: --- In
> AsburyPark@yahoogroups.com <mailto:AsburyPark%
40yahoogroups.com> , Mike
> Hemeon <tvnetdude2000@> wrote:
> >
> > Housing is a reliable year round source of taxable income.
>
> And you enter into a viscous cycle of never-ending tax increases
with
> only one source of revenue. Think commercial real estate tax, sales
> tax, etc.
>
