I regard property taxes to be the second pinprick
they will continue to rise even after housing prices soften
esp since local governments will respond to their own deficits
when housing goes into decline more clearly this year, two effects:
- recognition of impact to USEconomy will be vivid
- the decline will feed on itself, since refis and home equity extractions to fix their mortgage adjustments will fail
personally, I have a nice approach which has worked
my roommate and I cut a deal four years ago
I pay for the cable TV bill, he pays for electric bill
we have an apartment in an upscale building in suburbs
it has electric heat, but apartmt unit is surrounded, insulated
hot water is free, so gotta love those long showers in winter
I have no electric bill or hot water bill
Chaz pays for the rising bill which averages $100 per month
hey! no gay jokes, I am a firm avowed hetero dude
besides, he is asexual
we have no garbage removal bill, no sewer bill, no hot water bill
no property tax bill
no security concerns
just a creep of $10 per month in the rental increases annually
no big deal
the strain on homeowners will be monumental
- property taxes
- resets to mortgages
- water, sewer, garbage
- maintenance (roof, paint, heat system, termites)
- breakin risk, security
in no way do I regard home ownership to be a boon
dont remind me of how my old Boston suburban home rose $100k after I sold it over the course of the last five years
the stress level is lower here though, as a renter
when the disposal is stuck, I just tell the bldg manager
on Christmas weekend last year, the heat thermostat ignition trigger failed
the maintenance guy was here within two hours
try that as a homeowner
better yet, the security guy late night is some 300 lb speed demon with a horribly bad toupee wig
he is a great deterrent, esp since he smells bad
no thief would want to go near him
he is not that alert either
every time I pass him, he is feeding
/ jim |
