[Alberta's Child]

In my area I’m seeing a strange phenomenon. The rule of thumb in this area with ridiculously high property taxes is that you should get the hell out as soon as your youngest child graduates from high school. No sense in paying $12,000-$15,000 per year in property taxes when 90% of that figure is for the public schools.

So there’s been a flood of homes on the market over the last 1-2 years as more and more middle-aged homeowners have found themselves in that position. The thing is, the typical couple is not desperate to sell and they’re dead-set on getting a certain price for the home. So they put the home on the market for $800,000 (for example), and it sits there for months or even a year or two without any buyers and without any reduction in the price. The end result is that we have a bunch of these homes on the market right now, and the imbalance between sellers and buyers is pushing down the sale price of any home that actually does get sold.

[Meatspace]

“The end result is that we have a bunch of these homes on the market right now, and the imbalance between sellers and buyers is pushing down the sale price of any home that actually does get sold.”

You mean there is some type of free market supply and demand conspiracy?

[Robert A Cook PE]

$12,000.00 in property taxes in one year?

We pay $1175.00 for almost 3,000 sq feet, 4 bed, 3 bath built in the mid-70’s.