Unusual, But Still Spring Season

Governor Lamont named real estate as one of the essential industries in the State, and therefore eligible to operate during the pandemic shutdown.  Being good citizens, we closed all of our offices for the duration, and stopped doing open houses, because we believe that it matters greatly to reduce the chain of contacts each person has in a day or week.  It doesn't mean that we have stopped selling property, however.

Given the mildness of the past winter, business was already hopping by mid-March.  We have learned that many people, especially those coming to universities and hospitals to work, receive their offers very early in the calendar year, before there is much inventory to view in the way of homes to buy. We now try to list homes earlier than was customary, so quite a lot of activity had already taken place by the time we shut our offices.

Our agents have adapted to the new normal, and are continuing to show--virtually much of the time--and put offers together.  They have done inspections by Facetime, and closings by Zoom.  They were used to using technology for many things, but have gotten even better.  We have company meetings by Zoom, and even cocktail parties the same way.  It seemed strange at first, but putting in an offer without physically looking at a house has become common in overheated metro areas, where multiple offers rule, and a property's time on the market is measured in hours. Buyers then examine the home after the offer, during the inspection period.

I once bought a house while my husband was away on a business trip, and had only looked through the windows the weekend before he left.  We lived there for twenty years, and raised our family in that house, so we were more than happy with our choice.  Maybe there was some cognitive dissonance at work, or maybe some karma, but homes get found in all kinds of ways.  We are busy finding new ways to help people discover their own.

Talking About Tolls

We were in Norway this summer, where oil money provides most citizens with a very good quality of life.  In an effort to be responsible with the windfall, the Norwegian government is trying to make sure that infrastructure investments are replenished.  Hence, they have heavy tolls on their roads, which are very controversial.  One of the citizens I met was surprised that this was a big issue where I came from as well!

And it certainly is.  Governor Lamont has been trying all year to get the Connecticut Legislature to adopt some version of tolls.  We have lots of bridges and highways that need repair, and most neighboring states have tolls already.  Yet businesses and taxpayers seem up in arms about tolls, even though (or perhaps because) we pay among the highest gas and cigarette taxes in the country, not to mention our steep income, sales, and corporate taxes.  Is the addition of tolls just a bridge too far (pun intended--I couldn't resist)?

One of the strongest and most surprising opponents has been the Connecticut Business and Industry Association.  Thirty years ago, it weighed in on the side of an income tax, but this time it raised its voice against tolls.  The argument, which isn't crazy, is that CBIA doesn't trust the Legislature to restrict the spending from tolls to transportation infrastructure.  Since they've learned to raid the general fund and get around the spending cap, this is a reasonable fear.  Yet it's a little like saying that you won't give a kid lunch money, because you don't think he'll spend it on lunch, but being unhappy that he didn't get to eat.  Unless you don't believe that we need to spend money on roads, bridges, rail, and airports--and there is pretty unanimous agreement on that--you must believe that the money will come from somewhere. Why not have it come from a related use, and one that taxes all the free riders (again, couldn't resist that pun!) that come through the state?  We are paying in other states, yet not taxing those who drive on our roads.

Another argument against tolls is that people will pay to get to work.  That's almost as bad as the argument that putting up tollbooths (which doesn't happen anymore) is too expensive.  Commuters can get tax credits, or their employers can get tax credits for reimbursing employees who pay.  Or we could have tolls only at non-commuting times, or only in some directions, as the Mass Pike did.  The point is that those are all reasons that can be nullified with a little creativity.

Are people here just feeling overtaxed?  That's certainly a feeling many of us share, and worry about, since workers and business owners are leaving the State.  But might they not prosper more if getting around were easier?  And wouldn't those inside the State have an advantage over those driving in from further distances with products?  Nothing is entirely clear, but I for one am willing to give tolls a try.