On Jul 10, 6:20*pm, zeez wrote:
*Ever notice that most apartment buildings have managers and that they
come in to do inspections, repairs, etc. Notice also that most people
who have to rent are usually in the lower income brackets? *The gov't
raising property taxes and values over the past century are part of
the reason why home prices are so high. Is something built years ago
which is little more than a pile of wood otherwise really worth the
hundreds of thousands of dollars or even the 10s of thousands that
they go for? What about the land that no human had any hand in
creating? I don't usually wear the in foil hat but I smell a rat here

Housing prices are based on what people are willing to pay. People
with money are willing to pay a lot for houses. Therefore, those
piles of wood (or, in my case, concrete) are worth hundreds of
thousands of dollars.

This is usually called the "free market".

Oh, and rising property taxes don't drive housing prices up. If
anything, they drive housing prices down (a little), because people
can afford less house if they have to pay more property tax.

Go ahead, put on the tin foil hat. I think you need it.