Amid discussion regarding recent property tax hikes at a South Portland City Council meeting last month, Mayor Misha Pride suggested that elderly residents living on a fixed income may want to consider reverse mortgaging their homes to manage the growing tax burden. [RELATED: South Portland Residents Passionately Address Property Tax Concerns at City Council Meeting…]
Even 400K is inflated. Precovid it wasn’t uncommon to see 100K houses in some regions, in decent areas too.
I don’t think the homes I’m talking about, that currently sell for 10 million would be 400k in 2019.
Those are different houses.