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How is this any different than if a person owned their home, how many people sell their house should they take a job further away. Rent control generally only c
by zjaffee 8y ago
How is this any different than if a person owned their home, how many people sell their house should they take a job further away. Rent control generally only contributes significant savings if you've lived somewhere a long time.
- fiter 8y agoThere are inherent costs associated with selling/buying used property and this is especially true for housing. Renting does not have the same inherent overhead when switching, only the common overheads (moving physical possessions, changing mailing address, etc).
- nybble41 8y ago> how many people sell their house should they take a job further away That's... extremely common in areas with functional, non-distorted housing markets. There's some financial friction involved in buying and selling a home, plus the obvious emotional attachment, but I nonetheless still regularly hear of people moving across town for a shorter commute or a more desirable neighborhood. It's not a huge deal unless home sales are heavily taxed or the local property tax regime favors long-term owners (the homeowner's equivalent of rent control).