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It was originally not a terrible idea. You can be a poor family owning a cheap home, and rising property values can push up your property taxes to the point wh
by notSupplied 8y ago
It was originally not a terrible idea. You can be a poor family owning a cheap home, and rising property values can push up your property taxes to the point where you suddenly can't afford to stay in your own house.
Sure they could sell the now very valuable home and downgrade, but I find it inhumane to force someone out to "downgrade" from a home they already own.
- titanomachy 8y agoThey could take out a line of credit on their house and still be vastly better off than they were before the housing boom. Sure, they might not be overnight millionaires, but hopefully they didn't buy their homes _expecting_ the value to triple within a decade.