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Generally you buy the land under the house as well, and this is the part of the pack that is appreciating.
by satellite2 6y ago
Generally you buy the land under the house as well, and this is the part of the pack that is appreciating.
- Ekaros 6y agoTrue, but I imagine that at some point that won't be true any more. And in many cases that has already happened. In the end it just comes to betting on right location... See Detroit vs SF.
- bidirectional 6y agoMuch of that appreciation should be taxed away as the landowner unfairly benefits from public spending elsewhere. If a government decides to invest public money in building a good new school in an area, it is not right that the landowners benefit from free appreciation while the renters are forced to pay more.
- nemo44x 6y agoMuch of it is. Property taxes never end and in my experience only go up. Land owners are also bound to the area and assume all the risks associated with that. Renters can just get up and leave with no financial risk.
- cujo 6y agoThe landowners also pay more in the form of property taxes, at least where I'm from.