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Ownership is distinct from renting. It sounds like some US cities have a situation more like shared ownership, in which you can't actually own a home because t
by esotericn 8y ago
Ownership is distinct from renting.
It sounds like some US cities have a situation more like shared ownership, in which you can't actually own a home because there's no way to pay (or set aside) the full future stream of property taxes.
It seems bonkers to me because it would make settling down completely impossible, hence my comments about moving away to somewhere where homeownership exists.
In the place I already live (UK) we don't have that, so I'm not calling for any change.
In any case it seems that me (and people like me) moving out in this hypothetical situation of ownership being converted retroactively into rental gives you what you want anyway.