Re:U.S. Suffers Sharpest Rise in Poverty Rate in More Than 5...
by cammikebrown on Wednesday January 27, 2021 @02:41PM
(#25932900)
I think it depends where you live.
My parents bought a home in 1988 for $100k and sold it six years later for $120k. Zillow says it’s worth $590k now. They bought their next home in 1994 for $180k, and it’s now appraised at $650k. This is Sacramento, CA.
By the way, they pay about $3k/year in property taxes, while a new homeowner pays about triple that. If property taxes weren’t kept so artificially low for long time homeowners, I don’t think property prices would have gone up so much.
My parents bought a home in 1988 for $100k and sold it six years later for $120k. Zillow says it’s worth $590k now. They bought their next home in 1994 for $180k, and it’s now appraised at $650k. This is Sacramento, CA.
By the way, they pay about $3k/year in property taxes, while a new homeowner pays about triple that. If property taxes weren’t kept so artificially low for long time homeowners, I don’t think property prices would have gone up so much.