this post was submitted on 11 Jan 2024
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I have seen the amount paid in property taxes in USA via Zillow and... It is HUGE. No surpries that rents are so high. Rent have to cover minimum taxes, maintenance and part of house value. These expenses set the minimum value of a rent. But why you have so high property taxes? Cause enterprieses and billionaires don't pay taxes and cause they put their huge capitals also in real estate, raising the prices. The problem is that real estate is a right ( house ), but also an asset.
You are right, taxes are a part of the problem. Home scarcity and the fact that real estate is THE asset are another thing