@Mickey7 to Lemmy Shitpost • 2 days agoOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury youimagemessage-square323arrow-up1752arrow-down188
arrow-up1664arrow-down1imageOwing your home today is nearly impossible, but even if you did the ever increasing property taxes will bury you@Mickey7 to Lemmy Shitpost • 2 days agomessage-square323
minus-square@Dadiferlink3•2 days agoYeah, that guy could sell his house for 5 times what he built it for
minus-square@[email protected]linkfedilink5•2 days ago5? I bought my house a decade ago and it has almost doubled. If he built his house for less than his current property taxes, he would easily get 10x if not higher.
minus-squareJustinlinkfedilink7•edit-22 days agothe sign says that property tax each year is a third of his original house cost. Assume he lives in a place with insane 15% property tax: x*0.15*3=1 x=3*6 x=18 His house is worth 18x or more what he paid to build it.
minus-square@Mickey7OPlink0•2 days agoAnd then where is going to afford to buy another house to live in?
Yeah, that guy could sell his house for 5 times what he built it for
5? I bought my house a decade ago and it has almost doubled. If he built his house for less than his current property taxes, he would easily get 10x if not higher.
the sign says that property tax each year is a third of his original house cost. Assume he lives in a place with insane 15% property tax:
x*0.15*3=1
x=3*6
x=18
His house is worth 18x or more what he paid to build it.
And then where is going to afford to buy another house to live in?
Maybe he should stop eating avocado toast
😂