Mesquite Market

Excerpts from Southwest Hydrology September/October 2008, with some Commentary!

Early in U.S. history, public policy was fashioned to encourage settlement of the West. Laws such as the Homestead Act of 1862 and the Desert Lands Act of 1877 were framed to transfer government land to settlers. In 1902 the Reclamation Act provided funding for construction and maintenance of western irrigation projects. In its first annual report (1903), Reclamation had this to say” so that the remaining public lands will furnish the greatest possible number of homes, is an object worthy of the sustained effort of enlightened and patriotic citizens”. The public works that followed included such things as Hoover Dam, Shasta Dam, Newlands project, Yuma Project, Klamath project, Hetchy Aqueduct, and many more. With the 1902 Reclamation act the face of the West was changed forever. It must be pointed out and understood, these efforts and projects were directed at irrigation needs, based on a population that farmed for a living. Nothing like the urban shifts projected today!

Basin and Range Carbonite Aquifer System Study

What is a Water Table?

NASA Data Reveal Major Groundwater Loss in California

Groundwater Depletion Rate Accelerating Worldwide

Then came the drought-at a magnitude that had no probability of occurring, according to U.S. Bureau of Reclamation models based on a century of historical data. Sorry science guys, in the big picture, a century of data, barely counts as a data base.

In the blink of an eye, half a decades work to manage the Colorado River and meet the supply requirement and commitments has faded, as have the water levels in the Colorado River’s two prime reservoirs. Lake Mead and Lake Powell.   Today science is telling to expect less in the furture.

Lake Powell Water Levels

The opportunity to own water rights in this arid region, especially at today’s prices will soon go by the way side. This offering price is currently subject to change without notice.

Some of our Blog Sites

Irrigated Nevada Farm and Ranch Land Blog

Land in Nevada Blog

Water Rights in Nevada Blog

First time home buyers, not really first time, just not in the past three years, home buyers tax credit “free money”, likely to be extended even expanded. They are raising the income level for those who qualify to expand the program.

A generation of people of the United States is willing to tap into, possibly bankrupt their grand children’s financial future to prop up the value of their own assets, their homes. We as a society seem to continue to refuse to accept responsibility for the housing bubble.

First time home buyers tax credit of $8,000 will be extended and most likely expanded in a desperate attempt to put a floor under home prices. Those dollars they are printing and handing out will have to be paid back by the children of today and tomorrow.

You hear plenty of grumbling about government spending and waste. Many people complain about bank bailouts and stimulus frivolous programs. Washington DC is fighting to prevent private corporations from paying top executives too much in compensation.

It seems all you hear these days is how much money the current administration is spending and wasting. They now own banks, auto companies, and some insurance companies.

Yet when it comes to individuals and their own home values anything goes. If it will save the price of my home from falling further, then go for it. Extend those credits, give that money away. Greed at its most despicable level, at the expense of our children.

For the most part improved sales have only been at the lower end of the price ranges. The mid and upper range home values continue to fall. What most consumers pushing to extend these credits do not seem to understand is that we are pulling sales from next year, extending the pain.

The other growing issue is the fact that most of the mortgages being made to people receiving these tax credits, and I will say it again “free money from the government”

are high loan to value government guaranteed loans. The buyers have almost none of their own money in the game, no equity. No reason to stick around if the going gets rough.

The market values went up because of this type of funny money and mindless speculation. We are now going to use our children’s future hard earned tax dollars to protect those values based in our own mistakes and greed. We should be ashamed.  

Chris W. Miller

ERA Brokers Consolidated

Mesquite NV  89027

702- 346-7200

435-862-5951

Mesquite Market

chris@mesquitemarket.com

Lincoln County Land Market

Nevada Ranch Properties