3 ms·
I completely agree with your assessment, but I find it troubling that the government has incentivized the idea that “homes are an investment that should always
by pmart123 8y ago
I completely agree with your assessment, but I find it troubling that the government has incentivized the idea that “homes are an investment that should always go up.” While less so in California, municipalities typically have a short-term incentive to support high prices through property taxes, although society would net benefit by putting capital to more productive assets.
- ChuckMcM 8y agoIt has been my experience that the bank is pushing the "this is your biggest investment" mantra. That may be unique to the area, governments (perhaps because they know their tax rate is capped at 1% + local taxes) do not seem to be involved.