The problem is that because of the tax burden shift, the cost of keeping those people in their homes is paid by people who are trying to buy homes. It's a form of redistribution to people who already have assets from people who have income and are trying to build assets. It keeps people in their homes, in some cases it traps people in their homes, but at significant cost to other people.
That’s not true. Nobody is ‘keeping’ seniors afloat. They do pay taxes. Unless a sale is made, there is no profit. Property tax is an ad valorem tax. It’s just like unrealized gains. If you haven’t vested your stocks, should you be paying taxes on them?
It’s like everyone asking Elon musk to pay ‘his fair share’ because Tesla is doing well and his money is just a number.
Those who are trying to buy homes are not finding homes. I agree. It’s very easy to solve in a free market. Pay more. Seniors are not a burden to the infrastructure and utilities.
Instead of wanting to sip champagne on a beer budget, perhaps those who want to buy need to evaluate their wallets and purchasing power. And if their quality of life is wanting, the people who need to be questioned are our public servants. Demand that they SERVE the public. Not developers and the only ones being supported here are the public servants with developers colluding with them.
My grandmother bought a Diamond ring for 1000 bucks. If it’s worth a million now, it’s not her fault and she shouldn’t be penalized. It doesn’t cost anyone anything if she refuses to sell the Diamond.
It costs people nothing to NOT covet what’s not theirs..
