News for hackers. Stuff that matters.
Re:Americans need a six-figure salary to afford a new home i... by Always_Anon on Saturday November 11, 2023 @04:23PM (#38234680)
That's not true for Texas. In Texas, the entire costs of suburbs are paid for in property taxes and utility district fees and bonds. Texas is one of the few states where the majority of taxes collected by the state are property taxes. Or so I was told by a coworker living in Texas when I brought this up.
Re:Americans need a six-figure salary to afford a new home i... by Terr_ on Saturday November 11, 2023 @09:57PM (#38236817)
> In Texas, the entire costs of suburbs are paid for in property taxes and utility district fees and bonds.

The question is how long they can keep taking out more and more debt against the promise of never-ending growth and income from one-time development sales. The answer probably isn't "forever".

https://www.strongtowns.org/journal/2019/11/21/choose-your-f...

Re:Americans need a six-figure salary to afford a new home i... by Always_Anon on Sunday November 12, 2023 @01:31AM (#38237870)
This is a predicament everywhere in the US, the suburbs are not alone in this issue of debt financing for... everything...