this article is bs
Cities like Philadelphia have already cut property taxes to help longtime homeowners (who, by the way, stand to make a windfall off gentrification) stay put in their neighborhoods. But help for renters remains politically charged, in part because renting is still seen as a transitory stage — a life-step to be tolerated but not encouraged.
no one has cut my taxes ever. The only tax cuts here are for the rich. anyone buying a newly constructed 2,000+ square foot house with garage for $400,000+ gets a tax abatement for 10 years. My neighborhood has built hundreds of these houses in the last few years. none of the older houses sell because the yuppies buy the tax free ones and get a bigger house for the same mortgage. I’m waiting to see what happens when they try to sell. it will be a rude awakening at the realtors office. say bubble.
total bs article. and there are a lot of rental units in center city.
Selling a home is difficult and the reality is you will never get back for you paid for it, even with appreciation.
With home ownership, the bank owns the place instead of a landlord and you pay the bank interest on a mortgage every month. Its a good deal if you have a family and need room for every one to spread out. Single people and childless couples are better off renting.