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Since values where falsely supported by corrupt mortgages and appraisals then further supported by our government bailout not allowing the market to work as it
by Fainsan 7y ago
Since values where falsely supported by corrupt mortgages and appraisals then further supported by our government bailout not allowing the market to work as it should, why shouldn't people also expect to not be priced out of their neighborhoods? Shouldn't median income have anything to do with what housing costs should be in any given area? Everywhere in California for example isn't 5th ave or Silicone valley, so your argument is flawed.
- malvosenior 7y agoHousing prices are dictated by supply and demand. The supply is artificially low due to zoning (this needs to be fixed), the supply was artificially high due to the issues you stated. None of that has anything to do with taxing home owners. When you buy a house you should be taxed on what you paid for it. The government shouldn't have a back door to come and raise your taxes as high as it wants.