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by pbhjpbhj
1523 days ago
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You don't need a house after you die. So, you borrow money against the increase in value of the house. The OP is saying that when the estate (wealth of dead person) is concluded the balance will be such that loans against the property (aka 'equity release') will ask be paid easily by the sale of the property. Ergo, no loss to the hypothetical improver of the locality. I'd say also, anyone who is capable of producing all those improvements should be able to make a good living, and their wage should improve with the monetary value of land in the area. Meaning the land tax shouldn't, on average, be harmful. |
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Perhaps these are just my European sensibilities talking, but a house is not a hamburger, that you consume and then discard when you're done with it. It is your home, and your children's, and possibly their children's too. It's part of the link to your community, your memories, your history. Not a market good like any other, measured only in dollars.
You despair why communities are dying, why people don't know their neighbors, why they are becoming increasingly isolated - well here's your answer.