| ▲ | bthrn 2 days ago | |
Property taxes and insurance go up pretty much every year. | ||
| ▲ | toomuchtodo 2 days ago | parent | next [-] | |
Not faster than rent. You can always challenge your property taxes and shop your homeowners insurance. If your rent goes up, you can only move, which isn’t really an option when all landlords are raising rents in lockstep. Half of American renters are cost burdened, for example. https://news.ycombinator.com/item?id=43119657 (own my primary US residence free and clear, my housing savings goes into investments, which grow faster than inflation) | ||
| ▲ | grues-dinner a day ago | parent | prev | next [-] | |
Presumably those go up roughly the same for rental properties as well. So while your payments may still go up, you're paying it either way on top of interest/rent. | ||
| ▲ | al_borland a day ago | parent | prev | next [-] | |
Where I’m at there is a limit on how much property tax can increase. It is reassessed when a home is purchased by a new owner. This is done to allow people to age in place, and not price someone out of a neighborhood they’ve live in all their life. | ||
| ▲ | campnic a day ago | parent | prev | next [-] | |
Which has the exact same impact on rental properties. In many jurisdictions it is worse for rentals (no homestead or occupancy reductions) | ||
| ▲ | slumpt_ 2 days ago | parent | prev [-] | |
i guess it will depend a lot on where you bought some parts of california have been affected by insurers more than others, but in those more minimally affected? prop tax is suppressed via prop 13 (for better or worse), and the cost of insurance is a drop in the bucket relative to what id be paying for a roof over my head otherwise tbh | ||