I propose two changes to (try) and broadly solve this:
- Additional property tax if you do not live in your home fulltime. This includes vacation homes.
- First time, US Citizen, non-corporate homebuyers can get a loan at the federal interest rate.
If I were to try and buy the condo I rent, due to interest rates, taxes, and HOA's I would be paying $1000 more per month. At the end of my mortgage I would given the entire cost of the property to a bank in the form of interest payments.
Rich investors and companies effectively get to buy homes at a discount vs average joes.
If I were to try and buy the condo I rent, due to interest rates, taxes, and HOA's I would be paying $1000 more per month. At the end of my mortgage I would given the entire cost of the property to a bank in the form of interest payments.
Rich investors and companies effectively get to buy homes at a discount vs average joes.