The Madison housing market has finally felt the pinch of the recession: they’re experiencing their first decline in property values in 35 years. The value of real estate dropped by 3.1% in 2009. For the rest of the U.S., the price of an average home fell 6.5% in 2008 and 2009, compared to Madison where the average price fell 3.4% .
“There can’t be new spending. We’re going to have to cut where we can,” said Madison Mayor Dave Cieslewicz…in a phone interview…from the Netherlands…where he’s doing a “transit research tour.” No doubt he’ll know when and where to start cutting. Apparently the Doyle-wanderlust is catching.
Now, this is not to make light of the businesses and individuals in Madison who are hurting from the drop in property values, but it does rather underscore how out-of-touch our State Capitol is with the rest of the state. Some of the most influential legislators at the Capitol are from, you guessed it…Madison.
President of the Senate, Sen. Fred Risser (D) is from Madison.
Sen. Mark Miller (D) co-chair of the powerful Joint Finance Committee and impetus behind that awful budget, is from Monona, right outside Madison.
Sen. Jon Erpenbach (D), another powerful Democrat, is from Madison.
Rep. Mark Pocan (D), co-chair of that powerful Joint Finance Committee and another major impetus behind the budget bill, is from Madison.
Rep. Spencer Black (D), another powerful Democrat in the Assembly, is from Madison.
Anyway, you get the point.