Yeah housing gains do nothing for you if you want to stay in the same area.
Theoretically you’ll have more equity so you can take out loans, but with high interest rates you’ll likely avoid that… and your property taxes will eventually go up since your home value has gone up.
At least property tax increases usually aren’t as bad as rent increases, at least in my experience.
My apparently controversial take is that flat property taxes should be abolished and the imputed rent of a given property should be progressively taxed as income instead.
Yeah housing gains do nothing for you if you want to stay in the same area.
Theoretically you’ll have more equity so you can take out loans, but with high interest rates you’ll likely avoid that… and your property taxes will eventually go up since your home value has gone up.
Hate the fact that my house has gained so much.
At least property tax increases usually aren’t as bad as rent increases, at least in my experience.
My apparently controversial take is that flat property taxes should be abolished and the imputed rent of a given property should be progressively taxed as income instead.
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And insurance goes up now that it would be more expensive to replace.