Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In those situations it makes sense to stay because there is no real need to sell and move. The notion of the majority of people not selling and causing a shortage because of this is a bit far fetched. Not everyone is retired and has been living in the same house for 40 years. People change locations due to family or jobs all the time and their current property taxes aren't stopping them from doing that due to the move being a necessity.
Its also not creating a shortage becaue these individuals would need to move out of this home, and then more into another one, thereby just changing what house they are occupying.. It doesnt actually change the demand
In those situations it makes sense to stay because there is no real need to sell and move. The notion of the majority of people not selling and causing a shortage because of this is a bit far fetched. Not everyone is retired and has been living in the same house for 40 years. People change locations due to family or jobs all the time and their current property taxes aren't stopping them from doing that due to the move being a necessity.
When I see big houses occupied by empty nesters and small houses overstuffed with ten renters, I view "people not selling and causing a shortage" as the precise problem.
Its also not creating a shortage becaue these individuals would need to move out of this home, and then more into another one, thereby just changing what house they are occupying.. It doesnt actually change the demand
Okay, how about the empty nester moves into my overstuffed house with ten renters? That would measurably address the shortage.
I see the problem as consisting of one group of underutilized homes and another group of overutilized homes, with a solution to be found somewhere in the middle, where the utilization of all homes is "just right".
Florida, a red state, also has grandfathering/limits on property tax increases/assessments. In fact, it has been expanded in recent years to carry over the prior freeze limit when someone moves to a new home.
and its just as stupid there as it is elsewhere.. dont care what state you're in, a home is worth X, property tax should be Y.. period.. how long you've lived there is irrelevant.
Your link sucks, but I finally managed to figure it out. I presume you picked some very high priced metro areas like San Francisco for your little jaunt thru HUD-Land. As usual, you never research anything you post, but for anyone who is that interested, here's a link for San Francisco that worked when I tried it just now from PadMapper. PadMapper gives the average median rent in SF for a 3 bedroom apartment as $5,500.00/month. YIPES! That means that HUD is allowing families in the San Francisco area to rent homes or apartments for $4,000/month max. That's $1500/month SHORT of the average rental in SF.
And it's not all "free" rental money either. Housing voucher recipients are required by law to pay one third of their income per month toward their rent. HUD then makes up the difference. The irony is that someone making $75,000 a year would have too high an income to qualify for a voucher - and that's if any vouchers are even available. Mostly the housing voucher system has been frozen - even the waitlists are closed.
But please don't let reality interfere with your hatred of just about every state in the union except for N. Dakota. By all means get all ticked off at some hypothetical family living below the poverty line in California. At least it prevents you from coming over to the Colorado Forum and lecturing us on how worthless our state is. Thank Dog for that much, anyhow.
XXXOO
- Rambler
This.
Also OP, please note that renters are required to pay at least 30% of the rent for the home that they are renting and the housing authorities that administer the vouchers set limits on what the government will cover based on the family size so often times if they want to live in a nicer place, closer to that $4000 limit, they will be paying more than 30% of their income.
Typically if someone is renting a $4000 a month home, then they will still be required to pay $1200 of that portion so the government is not actually paying $48k per year.
ETA: It is also rare for a 3bd home to be rented, typically 1-2bds are rented most often with the HCV program. Note, I used to work in housing so know that this is the case.
Okay, how about the empty nester moves into my overstuffed house with ten renters? That would measurably address the shortage.
I see the problem as consisting of one group of underutilized homes and another group of overutilized homes, with a solution to be found somewhere in the middle, where the utilization of all homes is "just right".
My house is 5000 sf, and its just me living here usually. Its not causing a shortage because I dont have it on the market for another family of 5, it suits my wishes perfectly..
What do you suggest, raise my taxes, to push me out the door and then lower them when a family of 5 moves in?
If someones home has low real estate taxes, this means their neighbor, has to pay higher taxes in order to make up the difference..
The same is true with health care...
The left wines non stop over things like churches not paying taxes, because that means they are being subsidized (which they arent), but have no problem when it occurs for others..
btw, if they are staying in their home to keep their taxes low, this would not increase the cost of real estate and explain why prices are so high..
That's what higher taxes on rental property are for. Homeownership = "I've got mine."
Your link sucks, but I finally managed to figure it out. I presume you picked some very high priced metro areas like San Francisco for your little jaunt thru HUD-Land. As usual, you never research anything you post, but for anyone who is that interested, here's a link for San Francisco that worked when I tried it just now from PadMapper. PadMapper gives the average median rent in SF for a 3 bedroom apartment as $5,500.00/month. YIPES! That means that HUD is allowing families in the San Francisco area to rent homes or apartments for $4,000/month max. That's $1500/month SHORT of the average rental in SF.r
Thats very misleading considering there are segments of San Francisco that would clearly rent for $8000 a month and others that would rent far less to offset the difference.
Taxes on homes should be assigned to current values, not what someone paid 15 years ago.. a house is worth X, thereby its taxed at Y.. period..
You shouldnt get some grandfathering in because you lived there 15 years and the property increased in value.
I wouldn't call this liberal policy. We have a local State House member who's trying really hard to get a property tax appraisal freeze for Georgia, and he's a solid, red-state Republican.
When I lived in Florida, we voted in Save Our Homes, which froze appraisals, which was a total godsend when my house rocketed in value from $125k to $300k in the last housing boom.
So, wanting to save on massive property tax increases makes me a liberal, huh? Cool.
That's what higher taxes on rental property are for. Homeownership = "I've got mine."
Which I've never supported, but how is this any different than your support of ACA, where you get it free, and others have to pickup your cost?
its ok for others to pickup your cost on one thing, but not for you to pickup the cost for others?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
