3 ms·

Given that I'm not trying to sell my house, its market value is meaningless to me. Meanwhile, that house is in the midst of an growing group of increasingly de

Given that I'm not trying to sell my house, its market value is meaningless to me. Meanwhile, that house is in the midst of an growing group of increasingly desperate people. Desperation has very real consequences for the people living nearby. The effect you're describing is not nothing, but I think you're overstating it. I'd rather see the homeless housed than see my property value go up by another 10k. It would be worth more in that case, market evaluation be damned.

2OEH8eoCRo0 2y ago
Not for $10k? How about $100k?
- lotsofpulp 2y ago
  That results in even more property tax I have to pay. People should want higher land prices due to growing incomes and business opportunities, not solely due to lack of housing supply. The former is sustainable, the latter is either a tourist trap or a short term game of musical chairs.
  - PaulHoule 2y ago
    People are fooled to think it is OK to pay an inflated price for a house even if it means you struggle with the mortgage and taxes because you will sell to a greater fool…. But that perception is cracking. Leftists in Ithaca have learned that high property taxes drive up the rent and voted down a bloated school budget because they realized that we all pay taxes.
- __MatrixMan__ 2y ago
  Ok yeah, I'd consider moving if I could sell my house at $100k above market. But that's not how it works. Realistically, the whole market moves together, so I'd just end up paying $100k extra wherever I move into. It's not real. Whether I get mugged while I'm walking home from the grocery store... that's real, and it's a function of whether there's affordable housing available. Also, these are not independent variables. My house would be worth more if it were not in an area where you get mugged on the way home from the grocery store.

3 ms·

Given that I'm not trying to sell my house, its market value is meaningless to me. Meanwhile, that house is in the midst of an growing group of increasingly de

by __MatrixMan__ 2y ago

2OEH8eoCRo0 2y ago
Not for $10k? How about $100k?
- lotsofpulp 2y ago
  That results in even more property tax I have to pay. People should want higher land prices due to growing incomes and business opportunities, not solely due to lack of housing supply. The former is sustainable, the latter is either a tourist trap or a short term game of musical chairs.
  - PaulHoule 2y ago
    People are fooled to think it is OK to pay an inflated price for a house even if it means you struggle with the mortgage and taxes because you will sell to a greater fool…. But that perception is cracking. Leftists in Ithaca have learned that high property taxes drive up the rent and voted down a bloated school budget because they realized that we all pay taxes.
- __MatrixMan__ 2y ago
  Ok yeah, I'd consider moving if I could sell my house at $100k above market. But that's not how it works. Realistically, the whole market moves together, so I'd just end up paying $100k extra wherever I move into. It's not real. Whether I get mugged while I'm walking home from the grocery store... that's real, and it's a function of whether there's affordable housing available. Also, these are not independent variables. My house would be worth more if it were not in an area where you get mugged on the way home from the grocery store.