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Learning from the past

I hope citizens voting in the Las Cruces City Council election taking place on November 3, consider the experience of Clark County, Washington.
The Building Industry Association of Southern New Mexico is a clone of the Builders Association of Clark County, Washington, with the same Executive Director, in succession.
In September 2007, the Columbian, a newspaper serving Clark County reported: “Home building in Clark County slowed to its lowest level in more than 20 years”. “The inventory of new and existing homes for sale peaked in September with a 12 month supply”.
David Roewe, the Executive Director mentioned above, reported, in reference to the resulting Clark County business failures at the time: “It’s a time for survival of the fittest”.

In addition to contractor bankruptcies, not only did the BANK OF CLARK COUNTY fail, but the largest bank failure in U.S. history, that of WASHINGTON MUTUAL (ticker symbol “WAMU”) with significant exposure to what was known as the “Clark County Meltdown”, created a disaster for the savings of depositors and stockholders throughout the U.S.
Those candidates backed by the Building Industry Association of Southern New Mexico: Harbison, Jones and Archuleta, would be expected to give Las Cruces developers free rein and maximum profit opportunities, as was the case in Clark County, in appreciation for the Association’s generous support, should they be elected.
Are we prepared for the results?

Dan Townsend

Las Cruces

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