We have to pay 120K! year property tax for a commercial building, the value went up 3 million within a year 2 years ago (because Amazon has a big fulfillment warehouse in our town) and the tax doubled. This is highway robbery!
What sucks is that property values are largely set by banks through what they “determine property values to be” via their estimations for loans.
So if a bank wants to destroy an area by moving in low rent tenants they approve lower loans in an area, and if they want people to sell out through unaffordability and windfall seeking they approve higher loans in an area.
It’s difficult to save cash for real assets in high inflation environments, and decreases utilization, so most people opt for loans.
Totally inorganic manipulation of populations and businesses.
We have to pay 120K! year property tax for a commercial building, the value went up 3 million within a year 2 years ago (because Amazon has a big fulfillment warehouse in our town) and the tax doubled. This is highway robbery!
What sucks is that property values are largely set by banks through what they “determine property values to be” via their estimations for loans.
So if a bank wants to destroy an area by moving in low rent tenants they approve lower loans in an area, and if they want people to sell out through unaffordability and windfall seeking they approve higher loans in an area.
It’s difficult to save cash for real assets in high inflation environments, and decreases utilization, so most people opt for loans.
Totally inorganic manipulation of populations and businesses.