Sub Prime; the Positive Affects!

Implications: Falling interest rates should result in a reduction in tax assessments. General downturns in the economy should result in lower prices. 

Analysis:     When the housing market was booming many tried to cash in with things like special or at least higher assessments or property taxes.  Even know these two seem to go hand in hand how come the corollary is not also axiomatic?  Now that we are faced with this devastating sub prime issue, how come it is not a given that property is not reassessed so people pay less in taxes?  How come it takes so little time for the increase to hit and so long or so much resistance for it to go down?  One word answer, GREED! Yes, I know revenues will be lost that have been allocated for other things; just cut things across the board. 
    The american people have long become complacent with living beyond our means and getting used to the perks of up swings that we feel we can not live with less and certainly do not want to downsize.  Anything but that!  Time for a reality check!  What goes up, must or in many circumstances does come down. It is about time for the downward reassessments, coming to far behind offers by some high level executives to donate bonuses to help those about to lose their mortgages. http://blogs.marketwatch.com/greenberg/2007/11/should-wall-street-give-bonuses-to-subprime-victims/   And if you think this sub prime issue is only affecting the US, guess again!
 http://business.timesonline.co.uk/tol/business/economics/article2982623.ece  http://news.yahoo.com/s/nm/20071221/bs_nm/imf_stability_dc;_ylt=AnFV8NAYsJj1rJT5_yEEp.OyBhIF