Saturday, April 28, 2007

Home Taxes Rise Although Market Crashing

Property Taxes Up as House Prices Fall

For future reference: note that in the States, prices nationally show a modest 1% increase this year -- even though the market is imploding in many areas. Using this argument, and even because they expect other tax revenues to fall due to the housing market collapse and job losses, municipalities and local governments across the board are increasing property taxes, some of them substantially. If you're a government rather than near bankrupt homeowner, it makes sense. Yet another factor to consider when the UK balloon bursts, the wave hits, the bubble pops -- however you want to put it. Yet another reason those riding the rising UK housing prices should have put their good fortune in the bank, not into property in Bulgaria. Add that to the big UH-OH factor.

Posted by indiablue19 @ 12:39 PM (614 views)
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One thought on “Home Taxes Rise Although Market Crashing

  • This is something we have been consistently right about. There is no sign of any letup in the downward spiral of the US property market.

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