Comment on ‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
3abas@lemm.ee 3 weeks agoAlright, so you’re a young gen z family and you buy your first home, which is all you can afford right now, you’re young and you’re starting your careers and your family.
In 10 years, property values have increased dramatically, and you’ve had a child and you’re thinking about your second. Your careers are going well, and you think we should maybe get a bigger place for our expanding family. But oh no, there’s an unsustainable housing marketing bubble that refuses to burst, so you can’t afford a bigger place anywhere near your job. So you build UP, like they do in every multi-generational home culture, you expand your living space as your family expands.
It’s not a crime or a moral failure to upgrade your home, and you shouldn’t jump at the opportunity to beat someone when they’re down just because you don’t empathize with this particular boomer homeowner.
WoodScientist@sh.itjust.works 3 weeks ago
This Boomer homeowner is why those Gen Z families can’t find homes. If your single family home is worth $4 million, that is the market telling you that that single family home should not exist. The land is too in demand, too close to jobs, too close to amenities etc. to have that lot hoarded by a single selfish person. You want to live in a single family home on a quarter acre lot? Fine. Do it on the edge of the city where the land is cheap. This women’s lost could provide homes for a dozen families, at prices that would be affordable to Gen Z families. Instead people like her vote to prevent such redevelopment.
3abas@lemm.ee 3 weeks ago
Are you okay?
Right, an unsustainable bubble, I said that. This boomer family bought a reasonably sized and priced house that’s on the edge of the city, and now they’re forced to sell it and not be able to replace it with a bigger home on their budget in the same part of town, they didn’t fuck things up Zillow did!
The gen z family who buys today won’t be about to upsize tomorrow, and you’re gonna blame them.
grue@lemmy.world 3 weeks ago
The fuck-up was by the city, which failed to abolish the single-family zoning in order to allow the land to be developed to its highest and best use.
jj4211@lemmy.world 3 weeks ago
Based on the backstory, they kind of did what you said, bought it in a relatively more affordable context, and then the world changed their minds around them and retroactively declared it a multi million dollar property. Well at least for tax purposes and likely insurance, but not necessarily market rate (tax assessments commonly lag the market, so a market downturn could leave them with a multi-million dollar house that no one will pay the stated value for
grue@lemmy.world 3 weeks ago
More like the house is likely worth even more than the $4.4M it was assessed at. But nice try trying to spin your point to fit your narrative.