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by tropo
3279 days ago
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Moving is harder because property taxes will suddenly reset to much higher values. Long-term owners are partly protected from tax increases. We also have high transaction costs for homes. Considering both sides of the transaction, something like 10% of the home's value is eaten up by various fees. So nobody can afford to move. BTW, this is a huge source of our traffic problems, the other being school districts. |
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