On top of fewer buyers for the McMansions and lesser dwellings that are too big now the property taxes go up to compensate for reduced income and sales taxes as the boomers produce less and spend less. If you realize that you don’t own your property now... brace yourself, it is going to get much worse.
I think it is going to get so much worse that I am seriously questioning ownership of anything but the barest of necessities. I was thinking of buying more land instead of being in what is left of the market but I wonder if taxes will make that prohibitive. I’m seeing more and more large parcels of land for sale. Traditional ranches aren’t making it anymore. Maybe foreigners will pay our taxes?
I am seeing more land for sale, too. Boomers are the owners. I don’t see the younger crowd buying large tracts of land. It is typically family farms and ranches being sold off as the older parents die.