Property values and the Assembly

Posted: Sunday, July 22, 2007

On Monday, Bruce Hale took me to task for my over-emphasis on protecting property values ("Voters care about more than property value," July 16) during a news report on local radio about my intention to seek re-election to the Juneau Assembly.

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Protecting property values is not the only reason I have chosen to run for re-election. Still, since a home is the largest investment the average person will make in his or her lifetime, I will do whatever I can to protect that investment.

My concern, as a homeowner and as an elected Juneau official, is that we avoid a property value crash such as we experienced in 1986. For those of us who lived here at the time and saw the value in our homes drop to anywhere from 20 to 50 percent of what we paid, it was an experience none of us would like to see repeated.

If the sales value of Juneau property continues to decline, then many residents might have a home worth less than their mortgage. That is my concern, and I will do whatever I can to avoid such a situation.

Randy Wanamaker


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