Comment on Is investing in real estate immoral if you use it to buy your first home?

• Thorny_Insight@lemm.ee ⁨3⁩ ⁨months⁩ ago

  Having rented before and now owning my own house I can gurantee you that there’s a major difference in the freedom between those two.

  You think homeowners should not be required to pay property tax and build whatever they want on their property disregarding all safety regulations and building codes? I can definitely see how that would go horribly wrong…

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  • Fondots@lemmy.world ⁨3⁩ ⁨months⁩ ago

    I’m also a former renter, current homeowner, and you certainly get more freedom as a homeowner than you normally would as a renter (although you do sometimes hit the jackpot with a landlord who will let you do anything you want to your rental.)

    The second half of your comment though, is putting words in my mouth that I didn’t say. I agree with building codes, safety regulations, permits, etc. I certainly don’t trust the morons living next door to me to not blow their house up and mine along with it because they tried to service their own gas line, and I’m willing to give up that bit of freedom for myself because the benefits outweigh the inconvenience.

    I am, however, not a fan of property taxes, because I’d like to know that if I someday end up disabled, lose my job, and broke, I’d like to know I’d at least be able tocount on having a roof over my head even if I can’t afford to keep the heat and lights on, it would keep me out of the elements and provide some physical security. I like everything those property taxes pay for, but I want it to come out of income taxes.

    There’s also of course the issue of things like eminent domain and civil asset forfeiture. If the government can just take your home away from you, how real is your ownership of it? Just like how a landlord can decide to evict you or sell the property at any time, sure there’s a process they need to go through, but the government has hoops to jump through when they do it as well.

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    • Thorny_Insight@lemm.ee ⁨3⁩ ⁨months⁩ ago

      I don’t know where you live but the property tax on my house is 200€ a year which is less than half of what I spend on groceries every month. If I end up disabled and without a job, the property tax, from a financial perspective would be among the least of my worries.

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      • OneCardboardBox@lemmy.sdf.org ⁨3⁩ ⁨months⁩ ago

        In the USA, property taxes are how most towns and cities get the majority of their funding. 200€/year would be crazy low.

        In my medium cost of living town (USA), taxes come out to 4, sometimes 5 figures a year. Plus as the area becomes more desirable, property taxes (based on the sale price of a home) go up for recent buyers.

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      • Fondots@lemmy.world ⁨3⁩ ⁨months⁩ ago

        And how crushing would it be if you have no food, no money, no job, and not even a safe place that you’re just allowed to exist for want of $200?

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