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Is there an adjustment when I replace the roof? When I add a bedroom? When the house next door burnt down and got occupied by squatters? When OpenAI opened an o

Is there an adjustment when I replace the roof? When I add a bedroom? When the house next door burnt down and got occupied by squatters? When OpenAI opened an office withing biking distance? When the local industry collapsed? When the house collapsed? Because each of those scenarios opens an avenue for gaming the system, and if there's still a big deficit of units, every game of corruption will be played in order to squeeze out the market-banned value.

bandrami 3y ago
To the first question, sure: cost of improvements plus CPI. To the rest, orienting the policy around the vanishingly rare corner cases when property values go down is kind of silly. Our entire political system is a machine optimized towards preventing home values from ever falling. (Which does make me wonder why people feign surprise at the intended result that housing is nearly impossible to afford.)