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How does one “lose their home” if the value (to resell to others) goes down, but they aren’t moving & still living there?
by myvoiceismypass 7y ago
How does one “lose their home” if the value (to resell to others) goes down, but they aren’t moving & still living there?
- panopticon 7y ago> it'd suck to lose your home that you're supposed to own because your neighborhood got pricey This would imply that the value goes up (location, location, location). That would cause property taxes to increase and may drive people out that can't afford to stay.
- mlyle 7y agoThey're saying that if the value goes up you can have to pay increased property taxes that you now can't afford.
- rcpt 7y agoIt's really not a bad problem to have.
- mlyle 7y agoAs a purely economic position, sure, it's not awful... But if you're going to chase retirees out of communities they've lived their entire life that's kinda unfortunate.
- rcpt 7y agoMeh. We chase old renters out all the time and they don't get hundreds of thousands of dollars in windfall profits along the way.