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25th April 2009

4,600, but who’s counting?

After the symphony, we met up for dinner and drinks. The conversation turned away from surgery and medicine and into the impact that the failing economy was having on us. Chris joked about how when I started residency, he had pushed me to buy a house for the financial investment (it was encouraged to most of us freshly graduated medical students) and a year later, when he was in the same position, he had decided against it and how glad he was that he hadn’t bought a house.

“How much has your house lost in value?” One of the group asked me.

“I don’t know,” I demurred, “I’m not selling it for another two years at least and I figured I’d save my heart the stress test.” Besides, I reasoned, the housing market had never been as profitable in Milwaukee. Milwaukee is very much a blue-collared city and the home values and resell reflect that. Surely, it could weather the storm a little better.

The City of Milwaukee decided, however, that they would have none of this blissful ignorance, thank you very much. Since I am the one paying taxes on the property, they felt it was their duty to inform me of their recent appraisal of my property and sent me a nice official letter (in purple ink. I applaud the creative and aesthetic touch). Net Change: -4,600. Ouch.

My first thought: “Hey, that means my taxes will go down!”

The COM may have thought that they were bringing doom and gloom, but they hadn’t ever encountered the little orphan annie who resides prominently in my frontal lobe. For my raspberry bushes have sprung the first leaves of green this week and I have tiny rhubarb shoots popping through the ground and a garage door that now locks. You just can’t get better than that, even if the CoM has decided that it’s worth less this year.

This entry was posted on Saturday, April 25th, 2009 at 10:58 pm and is filed under Adventures in Home Ownership, All About Me. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Comments

  • It’s nice to have a house, though, don’t you think? And lower taxes are at least something.

    I know what you mean, though. It can be kind of depressing.

    • admin says:

      I love my house. Love it. There is something so supremely satisfying about coming home to my own abode. If I have to own the house forever, because of bad markets, I wouldn’t cry. In fact, I get a little misty-eyed at the thought of finishing here and moving and putting my baby back on the market. *sniff* I’m sure you feel the same about your place.

      But yes, I don’t like it when the worth of my wonderful place takes a tumble.

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