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That would be rational for the home owner, but for many losing money on the biggest investment they have is not really practical. Losing value on a percentage t
by indymike 1y ago
That would be rational for the home owner, but for many losing money on the biggest investment they have is not really practical. Losing value on a percentage taxed asset is not really practical for govenrment.
Also - the mortgage lender may not allow a sale at a lower than loan value price. The result is foreclosure, and even more loss in value.
- aprilthird2021 1y agoAllowing our cities to become unlivable, inhospitable, and overall crazy places to accommodate letting people have enormous gains on an asset they do barely any work to improve was not practical but we did it for many years and it's time to stop.
- indymike 1y ago> letting people have enormous gains on an asset they do barely any work to improve was not practical but we did it for many years and it's time to stop This makes little sense. In a democracy, it will be hard to get people to vote against their own best interest.