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NO--renters DO PAY property taxes in a portion of their rent --they just don't get the deduction for doing so--whether they rent commercial property, apartment/condo, or single family home or a double wide in mobile home park...denying it doesn't make it less true...
Only that you won't acknowledge a truth when you see it...
Renters actually subsidize the owner/landlord's property AND business/federal (and/or state) taxes because as the other poster said the owner gets ALL his expenses back via rental payments PLUS profit or he raises the rent or sells the house...
Landlords don't stay in business if they lose money...
In this country, government gives landlords "credit" for paying property taxes - that's why landlords get to write them off and renters don't - while the rent serfs who bear the tax burden get squat.
If you were to confiscate all of the wealth of all the billionaires in the US, it would fund the federal government for a little over a year.
There simply isn't enough wealth to fund retirements for everyone.
I've already funded my landlord's retirement plan and my employer's retirement plan. I just hope I can one day afford to retire. I've created wealth for them and have nothing to show for it.
Retire with everything paid off.A place to call home, even if it is a shack.Paid for of course. Wages don't match the cost of living. lIfe is tough. Create your own reality.
Honest answer - wife and I decided we will not breed. If we were going to have offspring, you bet I would not want them raised in a cruel and violent place. As two professionals - we are comfortable here as it is.
Like my Swiss friends that call California's Wine Country home... kids are not in their future.
Oh dear - another person who apparently believes renters magically escape paying property tax - even though landlords would not exist if they were unable to recover ALL their costs - including property tax - PLUS earn a profit acceptable to them.
Do you also believe consumers do not pay sales tax - it's levied on and collected from the seller - or corporate income tax?
If renters don't pay property tax, why don't you sell your home and save thousands a year on taxes?
Several things... rents are set by the market unless otherwise regulated and a lot of that regulation is in the works for California areas without rent control.
Several of my career military friends rented their homes when stationed elsewhere... they knew the rent wouldn't cover expenses but planned to return so renting help them to minimize the negative cash flow.
NO--renters DO PAY property taxes in a portion of their rent --they just don't get the deduction for doing so--whether they rent commercial property, apartment/condo, or single family home or a double wide in mobile home park...denying it doesn't make it less true...
Only that you won't acknowledge a truth when you see it...
Renters actually subsidize the owner/landlord's property AND business/federal (and/or state) taxes because as the other poster said the owner gets ALL his expenses back via rental payments PLUS profit or he raises the rent or sells the house...
Landlords don't stay in business if they lose money...
Many are speculators and rent defray the cost of carrying...
Now if you are exclusively thinking large apartment building then you are spot on... value IS determined by income generated.
Nearly impossible to do with single family rentals or even 2-4 units in a place like the SF Bay Area...
Some are reluctant landlords...
Subsidizing is an alternative way of looking at it... guess when I rent a car or buy groceries I too am subsidizing others?
A lot of boomers are heading into retirement with no stocks, no investments, and no homes.
I thought your point was Boomers had it easy and life is soooooooooooooooo difficult today that you can barely afford two $5 cups of coffee a day, 2 smartphones and a laptop, can barely afford to live in downtown San Francisco, have only 15 pairs of shoes....
Well we do have investments and houses headed into retirement and we've done it by working our butts off.
According to the latest Federal Reserve's Survey of Consumer Finances, due to the continuing strong bull market (run-up in stock prices), 15 percent (1 out of 7) white families in the U.S. are now millionaires. This is double the percent of 1992. At the same time, only 2 percent of black and hispanic families are millionaires, and this figure has remained the same over the years.
In this country, government gives landlords "credit" for paying property taxes - that's why landlords get to write them off and renters don't - while the rent serfs who bear the tax burden get squat.
Is this a great country or what?
Move to Syria if you take issue with property taxes in America
No law prohibits renters from becoming home owners or landlords
And don't you think with a signon like FREEMARKET complaining about rent-surfs is a little disengenuous....
a free market is all about taking whatever advantages you can get to improve your situation
And it is possible for rent serfs to buy a house -- there are locations that have lower home costs than SF or NYC or LA...if owning a home and getting that tax deduction is so important as a reflection of non-serfdom...
We had friends early in the 70s who had married in college and after he was graduated and relocated to Houston for his new job, they managed to buy a house w/downpayment that involved painting the house's exterior...for sale by owner--he just wanted to get out from under it because neighborhood was not appreciating...as they say...
Now admittedly homes certainly weren't worth what they are now--and it wasn't worth much then--
but it was a house, not an apartment, and they were buying vs renting...and they made money when they had to move several years later when he lost that job and had to move to new one...
Read the book "A $500 House in Detroit"-- about a guy who buys pretty derelict home in one of Detroit's inner neighborhoods at tax auction for 500 bucks and rehabs it over about a year's time room by room...
If you want to own a home badly enough you have to be inventive and committed...
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Usually takes a lot of money to get started.
