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Do You Really Own Your Home? A Tax Revolt Says No. (www.politico.com)
submitted 2 weeks ago by to c/usa@midwest.social
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The argument that property taxes make Americans renters in their own houses has fueled the biggest anti-tax uprising in half a century, and local governments are scrambling.

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[–] 1 point 2 weeks ago (2 children)

If housing prices drop and you are underwater its not so golden and if you pay more than the equivalent rent then you got your price rise in advance. Further if you hold on the mortgage is tenous and interest rates go up then your monthly payment can rise to. Its why I put my guidelines at the end on what is an affordable place to buy. In that scenario your golden but if you buy with a ballon loan on two incomes you may find that its fools gold your relying on.

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  • [–] 1 point 2 weeks ago (1 child)

    Housing prices going down only matter if you want to sell.

    Sure rents might be cheaper than owning, usually not though. Landloards are greedy as fuck. Buying my home was a good move because rents have gone up a lot since I bought it in my area. And of course rents could go down but... haha I joke.

    Regarding mortgages going up after you buy: that's only going to happen if you have an adjustable. I have a standard fixed mortgage it will never go up.

    Certainly my taxes may go up, but that only reflects rising home value and I'd get that out if I sell.

    If we had reasonable renter's protections it would make less sense to buy, but outside of Mamdani's New York, renter protections are absolutely horrible in this country and buying is the only way to "opt out" of the exploitative landlord system.

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  • [–] 2 points 2 weeks ago

    yeah so one of my things I had in my comments is criteria for buying a house and not being in trouble. Your sorta gotta take that with the rest of my comments. Its main thing was not being an adjustable. I get the housing going down is only bad if you want to sell. As a matter of fact it cracks me up because I will get neighbors who are so obsessed with housing prices going up but that just raised your tax. I mean I don't exactly want them going down or stagnating as its an indication things are bad but I also don't want them skyrocketing. I want them slowly appreciating like an asset like that should so that it basically keeps up with inflation. Its not really suppose to be a big money maker its suppose to be a good money store.

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