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Most people who are trying to live somewhere don't want their house price exploding, because then they get forced out by rising taxes and insurance.
by nitrogen 6y ago
Most people who are trying to live somewhere don't want their house price exploding, because then they get forced out by rising taxes and insurance.
- ghaff 6y agoThe opinions here are probably influenced by Prop 13 in California and by the fact that many younger people in the tech field capable of buying property probably assume that they'll be selling and moving somewhere else sooner rather than later. But, as you say, someone who plans to remain in their house indefinitely would probably just as soon not have their property taxes double (and may not even be able to afford them in they're retired on a fixed income).
- throwaway6734 6y agoThis is absurd. You could just as easily refinance or take out a heloc to take advantage of the rise in price that would greatly offset the rise in tax/insurance
- nitrogen 6y agoIf your income hasn't increased, that HELOC is just another mechanism that will force you out of your property if you spend it and can't repay it.