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Re:Why has regional income convergence in the U.S. declined?... by ThrustVectoring on Wednesday July 26, 2017 @04:37PM (#14860078)
The taxes get factored into the price of the land and the house, not rents. If demand for housing falls such that rent does not make owning a house worthwhile, it gets sold (or force-liquidated through foreclosure), and the new owner at a lower cost basis will let it out at market rates.
Re:Why has regional income convergence in the U.S. declined?... by sqeaky on Thursday July 27, 2017 @11:15AM (#14866061)
> The taxes get factored into the price of the land and the house,

So you have checked with every property owner and verified this?

I actually rent now, from my father (because he makes bad real estate decision despite having his real estate license). After talking with my landlord, who I know well and often talk to, I learned that in this area there are laws about how low rents can be. In his specific situation he is not allowed to rent the property for less than 125% of the price of his mortgage payment which must include the property taxes. Apparently, this is to insure there is money repairs.

So as for houses in Omaha I am fairly certain you are factually in error. I suspect other jurisdictions have other things going on in general, but it seems reasonable that most people do simple things like take their expenses into account which includes tax.