Aesop's Fable

This morning, the local newspaper reported that Jon "Jaz" Zydenbos, a republican from Weekee Wachee had thrown his hat into the ring to run against Jeff Stabins for the district 1 , county commission seat for the 2008. Is anyone wondering who Mr. Zydenbos is and why he has this quest to be our next county commissioner for district 1? Some may recall his recent letter to the editor of the Hernando Today which was published on September 27, 2007 which may give some insight on his aspiration for public office. In this letter, Mr. Zybenbos blames the county government for down turn in our economy, citing their inability to lower Ad Valorem during the building boom over the past few years.

Here are several quotes directly from Mr. Zybenbos' September 27th letter: Between 2003 through 2005, home prices virtually doubled and so did our new home owner's taxes. County commissioners just looked the other way and allowed county departments to pick the new homeowners' pockets clean every way possible. The commissioners cannot accept responsibility that they killed our economy. They ignore that Realtors, builders and their end customers have been crushed due to overspending and high taxes. Every business in this county is suffering because the housing industry has died. Depressed home sales is a statewide phenomenon and somewhat of a national problem. But it does go back to the function of all politicians to spend tax money as soon as possible during windfalls, such as our value spike from the past few years.

Did Hernando County government spend way to much during the building boom? The answer is yes they did but local government is not the entire culprit relating to the down turn in our economy. Personal responsibility should have been a large portion of Mr. Zydendos' equation when he described the slow down in home sales and building trades.

Mr. Zydenbos' letter completely ignored the fact that Ad Valorem rose dramatically on homes sales, due in part, to the hyper-inflated prices imposed by realtors, mortgage brokers and house flippers. No one questioned the motives of these realtors, home builders and mortgage brokers during their peak sales period of 2002 to 2005 in our supply and demand based economy. Has the unemployment rate gone up in the housing industry? The answer is yes it has but this is a natural trend in business flow from the housing market finally reaching its peak. All business should be prepared for changes in the economy, in the good times and the bad times. Yes, the government plays a part in the economy but not to the extent that Mr. Zydendos would have everyone believe in Hernando County. His opinion is such that the government destroyed the entire economy alleviating himself from any personal responsibility in that equation. Aesop's Fable, the "Grasshopper and the Ant" would best describe some of the realtors, builders and mortgage brokers in our community during the building boom. Maybe they should have saved for that rainy day when they were at the top of their bubble.

One last point in Mr. Zydenbos mentioned in his letter was the high rate of foreclosures. Is this an unfortunate situation for any homeowner? Yes, it is but this too falls under the category of personal responsibility to manage your finances. Were some first time homeowners duped by unscrupulous realtors, builders and mortgage brokers? The answer is yes but the entire blame still cannot be laid at the door of these businesses. In 2002, the Florida Legislature mandated that the "Truth in Lending" statement every home buyer signs at closing include the projected Ad Valorem taxes on their new property. The government listened to the people to include this legislation to protect home buyers from the sticker shock of a high Ad Valorem rate after their purchase. The local government also passed the largest reduction in Ad Valorem taxes in Hernando County. Now it is time for these realtors, builders and mortgage brokers to step up to the plate by accepting some personal responsibility for the situation they are in today.