Houses should be depreciating assets, like vehicles, due to the maintenance and upkeep required. Instead it's turned speculative like the stock market. Like it or not, regulatory bodies need to be involved at this point or American citizens will not be homeowners in 30 years. (Not that they ever really owned their homes anyway, as you've pointed out with property taxes.) Unfortunately, half of america has been propagandized to believe that any regulations are bad, so i dont see this ship turning around.
Yeah makes no sense that around me mouldering farmhouses with no AC, ancient septic, and built 1900 or earlier keep going up in value. Even ones that sit on no real land. The required upkeep and renovations alone required to make it decent to live in are expensive but nobody ever lowers the price. Shit isn’t realistic.
Houses should be depreciating assets, like vehicles, due to the maintenance and upkeep required. Instead it's turned speculative like the stock market. Like it or not, regulatory bodies need to be involved at this point or American citizens will not be homeowners in 30 years. (Not that they ever really owned their homes anyway, as you've pointed out with property taxes.) Unfortunately, half of america has been propagandized to believe that any regulations are bad, so i dont see this ship turning around.
Yeah makes no sense that around me mouldering farmhouses with no AC, ancient septic, and built 1900 or earlier keep going up in value. Even ones that sit on no real land. The required upkeep and renovations alone required to make it decent to live in are expensive but nobody ever lowers the price. Shit isn’t realistic.