AB housing crunch looms

[Uncle John]

A little bit of truth wrote:

Something has to change, but getting rid of it all together isnt the way. Because if we allow that pieces of AB to be taken, theyre wont be a place where those who cant afford the high prices to go. This is what we are looking at for that town another Hilton Head. If they could they would move us out as far as they could so the making of money is the highest priority. The low income need a place also.
But I understand what those with money are saying. I know what AB is trying to say but they are saying it in the wrong way by arguing and bickering wont make them look like an adult town, and those who act adult if you dont get envolved and try to resolve this childish foolishness everyone will lose out. People like Hilton Head will move in make it so high to live there not many of the middle class will be able to afford it-Patricia Robinson

Patricia, you have a valid point. It will not be as high as Hilton Head. Until the reputation subsides it will not equal in cost to N MB. I sympathize with you but no one can blame anyone but the people residents voted into office over the last 1/2 century. I have invested in real estate for nearly 50 years and do not see a purchase as an investment, only a gamble. Property owners believe their land is of the same value as N MB. It will be but far into the future. I'd not look for too much to happen too quickly. Only those that bought the land cheaply will be willing to build real soon. Condos are not selling in prime areas so it is very doubtful any in the luxury class wil be built there. AB will be viable again, but it is going to take a long time to undo what has been done.

[Trvman]

Bring in the Indians.

Let them build a casino. Anyone who lives in the town will get new housing. They can build the housing and then level the town and build the casino. No one is displaced, better living conditions and now the residents can have a place to work and will not need any public assistance. If they don't want to work or pay for housing, they can move out. It will be their choice. Let the county run the police, fire and all the other related services. Casino's will also have their own security, so crime should be almost none. Many problems now solved. This is basically what they did in Atlantic City. New housing and tore down all the slums and then built the new casinos. That shows it can work.

I would be glad to be on the board to get the Indians interested.

[True Blue]

Pave over AB and make it a municipal parking lot.

[Local29577]

Uncle John wrote:

<quoted text>
They were looking at a minimum bid of around $400,000. Who, besides the govt, is dumb enough to want to continually pour more money in than rent and subsidies bring in? The cost of demoilition would have to be considered along with taxes and insurance to hold it for probaly a very long time. It would be worth a $25,000 gamble knowing it could always be let go for taxes in the future. It would have to be seen as a gamble, not an investment with AB's last half century history.

Exactly Uncle John. No business person is going to consider that property and I'm bewildered why Thompson thinks along the lines it would be considering local AB gov't. With circumstances as they are that property is not marketable.