J.Quondam
CR 1/8
And the "Understatement of the Year" Award goes to...!Yeah. The people of several states have been... poorly served by their state governments.
And the "Understatement of the Year" Award goes to...!Yeah. The people of several states have been... poorly served by their state governments.
When we moved where I now live, 50 years ago, you could get a semi-detached house for $15,000 and a detached for maybe $25,000. No, those aren't typos Now this city might as well be part of Toronto and the same detached, single story homes are going for upwards of $800K.My parents live right in the heart of Vancouver. In 1980, they paid $67 thousand for their three bedroom, one bathroom house on a big corner lot (they have a huge vegetable garden). My dad currently pays more in property taxes than he used to in mortgage payments. Their house is valued at 3.8 million! Which might be great if they wanted to move, but they don't. (If they sold it, it would be torn down and a very large house with a coach house would be built in its place.) My dad used to joke that he was a millionaire (in assets), but he couldn't afford to retire. (He worked it out and he's retired now).
My grandmother still lives in a house that she paid $4000 (interest free!) for in 1948. It would be about $2.8 million now, if I am up on that neighborhood.When we moved where I now live, 50 years ago, you could get a semi-detached house for $15,000 and a detached for maybe $25,000. No, those aren't typos Now this city might as well be part of Toronto and the same detached, single story homes are going for upwards of $800K.
Real estate: 'Cause they ain't making any more of itMy grandmother still lives in a house that she paid $4000 (interest free!) for in 1948. It would be about $2.8 million now, if I am up on that neighborhood.
It's the rake scene in the Simpsons, except we know the rakes are there, and we keep stepping on them on purpose, over and over again.
My parents live right in the heart of Vancouver. In 1980, they paid $67 thousand for their three bedroom, one bathroom house on a big corner lot (they have a huge vegetable garden). My dad currently pays more in property taxes than he used to in mortgage payments. Their house is valued at 3.8 million! Which might be great if they wanted to move, but they don't. (If they sold it, it would be torn down and a very large house with a coach house would be built in its place.) My dad used to joke that he was a millionaire (in assets), but he couldn't afford to retire. (He worked it out and he's retired now).
I'm all for keeping folks in their houses in their senior years - or to stop families from being removed at younger ages due to gentrification, or to stop ancestral land from being lost because of increasing value!Yes, this is the type of thing that really burns me. There should be laws that they can never make you pay more in property tax than what your mortgage payments were....ever.
IT's terrible for those on retirement incomes and fixed incomes. You buy a home hoping to have it into your senior years, and then you end up paying more on a fixed income in property taxes than you were paying on it's mortgage when you were working.