Corporate Owned Life Insurance - COLI

Unit 5302 · 05-12-2002, 01:05 PM

While I find Ventura to be refreshing in some ways, he can certainly be annoying in others. He had a record number of spending veto's overturned by our crazy liberal legislature. After that, he pretty much came out and said there wasn't much he could do to stop the clowns. Right now our legislature is running out of time to approve a budget. If they miss next Tuesday's deadline, Ventura gets ultimate veto power. That means he can ax whatever he wants to, hehe. I would love to see him get a hold of the ridiculous spending policies going on right now. As for being unfavorable to big business, Minnesota is the 3rd highest taxed state in the United States, following California, and New York. It certainly doesn't seem to me we should be in that league. The cost of living is increasing in double digits per year here thanks to a non-elected

"Met Council" which is a power hungry organization, hell bent on controlling the growth of the twin cities. They are fiendish with their use of terms like "Urban Sprawl" which doesn't really exist here. There are simply no businesses moving out from the cities because of land value for commercial property, and tax rates. Furthermore, the Met Council is controlling new homes, and restricting cities near the metro area to a certain level of required low income housing. Apartments haven't been built to control extremely low vacancy (for the past 3 years between 0.5-1.5%) because the apartments would have to be "low income." For apartment owners, that means there is no reason to build. They cannot make any kind of a profit on low income rent. Instead, builders and owners have found a loophole. Retirement homes and assisted living apartments, which are springing up by leaps and bounds now. The Met Council's philosophy is the ridiculous idea that "everybody uses downtown Minneapolis." It's the biggest bunch of crap I've ever heard in my life, and it's been twisted to regulate almost everything. The council has decided to pick the "Portland, OR" model as to how they want to proceed. Unfortunately, Portland is bordered on 3 sides by natural barriers. Stupid. Regardless, to give you an idea on how bad rent and home prices are increasing, metro rent has increased 15-20% per year for the last three years. A home worth $80,000 4 years ago would now sell for $170,000. A nice single bedroom apartment within 35-40mi of downtown Minneapolis would have cost $400/mo 3 or 4 years ago. Now, it's $800/mo or more. If you don't meet restricted income guidelines, you really get hosed. Also, it's now basically impossible for first time home buyers here. There is no hope saving for a down payment. Inflation in the real estate market eclipses peoples ability to save, and in many cases if they can squeeze into a new home this year, there is no chance they'll be able to do it next year. All this is actually causing the urban sprawl the council so diligently works to stop. They must have an IQ of 10. People are moving farther and farther out, hoping to catch the front of skyrocketing land values and watch their equity increase. Driving distances of 60mi with alarming regularity. I seriously fear that it's too late for some. Should the met council be ousted (which I really, really think they should) property values will actually plummet in my opinion, and that will be catastrophic for buyers who purchased their homes at the peak of craziness.

As far as liberal agenda goes. I'm sure you're aware Minnesotan's elected Paul Wellstone.

Some of them actually want him to run for president. That guy is the biggest spendmeister ever.

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05-12-2002, 01:05 PM	#1
Unit 5302 Registered Member Join Date: May 1999 Posts: 5,246	While I find Ventura to be refreshing in some ways, he can certainly be annoying in others. He had a record number of spending veto's overturned by our crazy liberal legislature. After that, he pretty much came out and said there wasn't much he could do to stop the clowns. Right now our legislature is running out of time to approve a budget. If they miss next Tuesday's deadline, Ventura gets ultimate veto power. That means he can ax whatever he wants to, hehe. I would love to see him get a hold of the ridiculous spending policies going on right now. As for being unfavorable to big business, Minnesota is the 3rd highest taxed state in the United States, following California, and New York. It certainly doesn't seem to me we should be in that league. The cost of living is increasing in double digits per year here thanks to a non-elected "Met Council" which is a power hungry organization, hell bent on controlling the growth of the twin cities. They are fiendish with their use of terms like "Urban Sprawl" which doesn't really exist here. There are simply no businesses moving out from the cities because of land value for commercial property, and tax rates. Furthermore, the Met Council is controlling new homes, and restricting cities near the metro area to a certain level of required low income housing. Apartments haven't been built to control extremely low vacancy (for the past 3 years between 0.5-1.5%) because the apartments would have to be "low income." For apartment owners, that means there is no reason to build. They cannot make any kind of a profit on low income rent. Instead, builders and owners have found a loophole. Retirement homes and assisted living apartments, which are springing up by leaps and bounds now. The Met Council's philosophy is the ridiculous idea that "everybody uses downtown Minneapolis." It's the biggest bunch of crap I've ever heard in my life, and it's been twisted to regulate almost everything. The council has decided to pick the "Portland, OR" model as to how they want to proceed. Unfortunately, Portland is bordered on 3 sides by natural barriers. Stupid. Regardless, to give you an idea on how bad rent and home prices are increasing, metro rent has increased 15-20% per year for the last three years. A home worth $80,000 4 years ago would now sell for $170,000. A nice single bedroom apartment within 35-40mi of downtown Minneapolis would have cost $400/mo 3 or 4 years ago. Now, it's $800/mo or more. If you don't meet restricted income guidelines, you really get hosed. Also, it's now basically impossible for first time home buyers here. There is no hope saving for a down payment. Inflation in the real estate market eclipses peoples ability to save, and in many cases if they can squeeze into a new home this year, there is no chance they'll be able to do it next year. All this is actually causing the urban sprawl the council so diligently works to stop. They must have an IQ of 10. People are moving farther and farther out, hoping to catch the front of skyrocketing land values and watch their equity increase. Driving distances of 60mi with alarming regularity. I seriously fear that it's too late for some. Should the met council be ousted (which I really, really think they should) property values will actually plummet in my opinion, and that will be catastrophic for buyers who purchased their homes at the peak of craziness. As far as liberal agenda goes. I'm sure you're aware Minnesotan's elected Paul Wellstone. Some of them actually want him to run for president. That guy is the biggest spendmeister ever.