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‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
(www.yahoo.com)
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The homeowners have two options, and both options suck.
Both alternatives carry costs. But they own a home worth 4.4mil and have to pay 2% of that each year. That's pretty low.
Hmm. So if you buy a house in your 20s, by the time you retire, you would have bought the equivalent of 2.5 houses. One for you, one from the government for the privilege of living in the one you bought, and half a house worth of interest to the bank.
That's an insane amount of money.