US cities' property value to fall $1.46 trillion in 2008

Yet another knock-on effect of the years of bad economic policy by the Republicans. This means either cutbacks in services offered by US cities, higher taxes or higher costs. The Republican policies such as the Gramm Leach Bliley Act were based on bad theory so now in the real world, everyone is going to be paying the price. Democrats are making a mistake if they fail to tie the policy to the results, every single day.