Worst case scenario - A Zimbabwe-style seizure of your land. Done in the interest of "fairness" of course.
Likely scenario - Property taxes soar through the roof so that you pay your "fair" share.
When SHTF, land ownership will mean squat.
correct-o
No one in America “owns” land, if you think you do, stop paying property taxes
That will depend on location. States and counties determine property taxes. Age and income usually also qualify someone for Homestead Tax relief of some sort.
We are seeing a lot of people buying property where we live and many are buying with cash from IRAs. Taxes, of course, have gone up. I see ads for rental apartments in villages that are asking $700/month. But, evidently, people are paying that.
We know someone who turned a large IRA into a fortune in real estate with an impressive cash flow. I realize all the costs involved, but, from what I can see, there is still profit to be had.
The kicker comes when they try to liquidate for cash. Ask a family farmer with 500 acres just how much he would realize in a sale. And that doesn’t even factor in the estate taxes his heirs will pay.