The housing market in Monroe is dropping while our neighboring towns of Trumbull and Shelton are rising. Monroe has experienced price reductions compared to our neighbors. For example the per square foot price of a Monroe home has dropped over the last two years while the price of a home in Trumbull and Shelton has increased.
According to statistics from the Board of Realtors, Monroe property values have dropped from $168 per square foot to $161 while Trumbull in the same time frame went up from $200 per square foot to $203 and Shelton went from $170 to $182.
What is keeping young families from moving to Monroe? Anybody in real estate will tell you that people buy homes based in large part upon the quality of schools. The fact is property values are linked to education and both have drastically suffered under the current administration.
As student classroom ratios rise, a school system becomes less desirable and families begin to look elsewhere. Home buyers with growing families are focused in on finding the best school district for their children's education.
The overall trend during the Vavrek administration has been cuts to services, programs, and instruction. I believe in protecting the quality of our school system, not with a blank check, but by advocating for austere budgets which keep core programs in place.
Make no mistake, I am a moderate when it comes to fiscal matters. But we have seen two years of extreme cuts that are not only hurting the school system but also causing our property values to go down. Many will respond by saying that dollars do not directly equate to quality and I agree. Yet, lack of dollars year in and year out lead to no other outcome but a steady decline in quality. I believe in the adage about being penny wise and pound foolish.