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At the heart of the problem: > Public policy contributes to the generational standoff. Property-tax exemptions for longtime residents keep older Americans from
by smaili 9y ago
At the heart of the problem:
> Public policy contributes to the generational standoff. Property-tax exemptions for longtime residents keep older Americans from moving. Zoning rules make it harder to build affordable apartments attractive to senior citizens.
It's moreso about gov policies than it is about generational differences.
- 40acres 9y agoYou also have to consider the fact that the older generation will lobby against government policies that would weaker their position.
- jartelt 9y agoYep, the market is skewed by policy. You get to buy a house using the mortgage interest deduction and then you get artificially low property taxes as your property value increases over time (in CA). Meanwhile renters don't get any sort of "rent deduction" and get stuck paying higher rent when property values go up even though the landlord's property taxes don't go up much.
- votepaunchy 9y agoThe landlord deducts mortgage interest as a business expense, a cost savings which is passed on to renters.
- jartelt 9y agoLandlords are going to charge market rate for rent. They won't charge a lower rent if their property taxes are lower than they should be due to prop 13 and won't charge a lower rent if they are deducting mortgage interest.
- collyw 9y agoIts the same in many countries.