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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Tommaso who wrote (21917)1/22/2005 1:24:03 PM
From: Taikun  Read Replies (1) of 116555
 
<Actually something like 40% of U. S. homeowners hold their houses free and clear of any debt.>

On FinancialSense.com this weekend they talk about a homeowners revolt in LA where seniors are getting hit with huge increases in property taxes as houses (that were say a hundred thousand when they bought two decades ago are now assessed in the millions) appreciate and taxes that are 2% per year become a big number on a million dollar home.
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