4 ms·
It still baffles me that people feel entitled to live forever in a rental unit with minimum rent increases (while keeping the right to move out whenever if it's
by largote 12y ago
It still baffles me that people feel entitled to live forever in a rental unit with minimum rent increases (while keeping the right to move out whenever if it's advantageous).
Not being subject to this is pretty much the main advantage of owning your primary residence, rather than renting it.
Now, the fact that a lot of people don't really have viable avenues into home ownership (even if they wanted to do it) is another matter completely.
- UnquietTinkerer 12y agoI think it is similar with property taxes. At least where I am they are tied to property value, which is assessed based on the recent sale price of comparable properties. If someone is willing to paying huge sums for houses in your neighbourhood you always end up paying more for yours.
- lsaferite 12y agoDoes CA not have limits on property tax increases each year? I live in FL and the homestead laws prevent the property taxes from raising more that a few percent each year as long it's the primary residence. So, my neighborhood can skyrocket in value and I won't find myself unable to pay my property taxes. The valuation resets on the sale of the property though.
- UnquietTinkerer 12y agoI honestly don't know, but if Proposition 13 is still in effect [1] then it would appear you are right - property taxes can only increase by 2% a year. [1] https://en.wikipedia.org/wiki/California_Proposition_13_%281978%29 https://en.wikipedia.org/wiki/California_Proposition_13_%281...
- lelandbatey 12y agoEvery time I see these posts, I wait for an Onion piece titled: > Thousands of San Francisco renters astonished to learn they do not own their apartments