Nearly half of all renter households are distressed. I am not surprised.
Distressed Households
The Census Department reports Nearly Half of Renter Households Are Cost-Burdened, Proportions Differ by Race
Over 21 million renter households spent more than 30% of their income on housing costs in 2023, representing nearly half (49.7%) of the 42.5 million renter households in the United States for whom rent burden is calculated. Although the median ratio of income-to-housing costs for renters remained unchanged from 2022 at 31%, there are differences in the income-to-housing cost ratio when comparing across householder’s race. That’s according to newly available data tables released today from the 2023 American Community Survey (ACS), 1-year estimates.
“Housing costs rose between 2022 and 2023 for both homeowners and renters. The median cost of housing for renters rose from $1,354 to $1,406 (after adjusting for inflation),” said Molly Ross, a survey statistician with the U.S. Census Bureau. “And new data from the 2023 ACS, 1-year estimates show that the share of a rented household’s income that goes towards these housing costs differs by householder race.”
Within Black or African American alone renter households, or households where the householder identified as being only Black or African American, 4.6 million (56.2%) paid more than 30% of their income on housing costs in 2023.
Largest Annual Real Increase in Gross Rental Costs Since 2011
Also note that 2023 had the Largest Annual Real Increase in Gross Rental Costs Since 2011
The real median gross cost of renting — rent plus the average monthly cost of utilities and fuels adjusted for inflation — grew faster annually (3.8%) than real median home values (1.8%) in 2023 for the first time in 10 years, according to the 2023 American Community Survey (ACS) released today.
This marked the largest annual real increase in rental costs since at least 2011.
The Cost of Rent Up 0.4 Percent Again, CPI Rises 0.2 Percent in August
On September 11, I noted The Cost of Rent Up 0.4 Percent Again, CPI Rises 0.2 Percent in August
I expected rent and OER to moderate. They didn’t. The CPI rose 0.2 percent month-over-month but fell to 2.5 percent year-over-year.
CPI Month-Over-Month Rent and OER
The price of rent and OER rose at least 0.4 percent every month for 33 consecutive months. In June both were up 0.3 percent breaking the streak.
However, July and August were back to the old pattern.
I have been discussing rent as a campaign theme since the beginning of the year.
Renters Will Decide the Election
April 20: People Who Rent Will Decide the 2024 Presidential Election
June 19: Why Angry Renters Will Decide the Election, Take II
July 5: The Unemployment Rate Bottomed a Year Ago, Who’s Impacted the Most?
July 23: Signs of Severe Credit Card and Auto Loan Stress in Generation Z
My call remains. Renters (primarily young voters and Blacks) will decide the election.
If they break for Harris in similar numbers as 2020, she will win. If Trump can make significant inroads he will win.
When it was Trump vs Biden, record numbers of young voters switched from Biden to Trump.
Polls suggest that trend has reversed towards normal patterns. I don’t pretend to know the final outcome.
Those numbers are such a lie. So, from January of 2021 to August of 2024 they’re saying rent prices went up with an average increase of at least 0.4% month over month to a total of 15.2% increase. My studio apt in Cleveland went from 615.00 a month to 945.00 a month within 3 years, almost 55%!
Don’t judge national numbers with a sample of one: yours
Thousands of years>
Food
Shelter
Clothing
30%
30%
30%
Loan underwriting kept to this metric, not sure if it still does?
Due to efficiencies in farming and textiles, shelter percentage allocation can/does go UP.
Blame all this on Worst President in history Joe Biden & Useless Kamala for destroying America’s economy. One important question that useless Kamala can’t answer is “How are you now compared to 4yrs ago?” Better Vote for Trump in Nov 5th bring back our economy in better shape..
It would behoove Trump to talk about the economy rather than talk like Bernie Sanders!
We are moving towards a command economy (“a system of public ownership and central planning”)
It’s astonishing, but the FED’s Ph.Ds. don’t know a debit from a credit. They don’t understand how banks create new money and credit. They repeatedly say banks are intermediaries.
The unique operations of the banks have profound implications. Banks don’t lend deposits. All savings deposits have a zero payment’s velocity. The U.S. Golden Age in Capitalism was driven by 2/3 velocity and 1/3 money. Today we have the opposite scenario.
And remunerating IBDDs reduces the real rate of interest. That alone is enough to send it into the archives. That’s not interest rate targeting, that’s asset price / housing price targeting.
You must pay for the Empire which does not care about your local conditions. And if you are not a billionaire or servicing the billionaire class, you should be happy for the equity of enjoying the same so called standard of living as Mexico, China, Brazil etc. Wonder why the political servicing class holds a fascination for black presidents? Africa is the fastest growing demographics and holds untapped natural resource wealth.
Rent for 3 bedroom, 2.5 bath, +1 car garage townhomes on east side of Panama City Beach renting for around $2050, and were renting for $1400 back in 2016.
The “service worker” starting hourly rate for fast food and hospitality industry is $15/hour.
Three “service workers” could easily afford renting one townhome.
Would be $3,250 in NY right now for that………….And I keep saying things are over priced and where are they finding people to rent these or buy it for 450k plus
Meanwhile the prices keep going up and they find someone to rent them so what the hell do I know?
The local Toyota dealership charges $300/hr for labor. Riddle me that.
BFD some renters have it tough while most people pay 50% or more of income keeping their homes while insurance doubles property taxes keep increasing and fire insurance has tripled to $1500 A MONTH IN COMMIEFORNIA. Cry me a river.
Yes it is a BFD and you clearly fail to understand why.
1500 usd a month ? That’s truly nuts
Most of the time, yes.
But not after the fire.
good topic and analysis.
Before WWII the standard of living in USA afforded tar paper shacks for many people, and clapboard for the middle class. After WWII USA held a monopoly on manufacturing. US wages rose and unions extorted wages beyond the productivity of unskilled labor. Those days are gone. USA has no monopoly. US labor is no better and no more productive than many competitor nations. Our US standard of living for low skill workers is destined to equal the norm for nations like Mexico, Brazil, Argentina, China, India, Poland, Spain….
Certain items are important to our national security, They will be produced in the US
by highly skilled and semi skilled workers. Those sectors will be protected by tariffs. Only out of productivity we can grow and prosperous. A good economy lift all wage. Gravity with the world will lift wages in China, India, Mexico, Argentina, Poland, Spain…Retired Chinese will starve.
American retirees won’t starve but will become tired of eating dry cat food.
Which is better? Dry cat food or dry dog food?
Three year old me would eat dry cat food occasionally. I tried dog food once, and that was once too many. Even to a three year old, that stuff was nasty! The dogs eat cat food, but I seldom saw the cats eating dry food out of the dog dish.
So I vote for cat food.
Dogs love dry cat food! You can use it as treats.
which one is better : retired Chinese will starve or retired boomers will starve.
This retired boomer ain’t starving Things are great now that I’m out of NY and actually the US
Why would anyone eat cat food when they can eat rice and beans and oatmeal and many other cheap foods? Cat food costs more and would be disgusting to eat
For the symbolism and political leverage.
That shouldn’t take long
No one eats it dry. Who has teeth?
“Our US standard of living for low skill workers is destined to equal the norm for nations like Mexico, Brazil, Argentina, China, India, Poland, Spain….”
And: There are virtually no workers with any skill left in the US by now.
So far; an ever shrinking clique of utterly unskilled and clueless Fed beneficiaries have been able to pretend that sitting on the couch while wall fungi magically creates value so “my home went up” is some sort of zkillll! And ditto mindlessly picking random numbers while cheering for fellow monkeys doing monkey dances on teeevee! As well as that selling one of these Fed pumped up “homes” is somehow zkilled. And screeching for Dear Leader to drag better people into third world kangaroo courts. Etc.,etc….
All due no no other reason at all, than The Fed keeping that trash flush. With wealth specifically stolen from more useful people who, as a result, no longer have access to anymore capital (it was stolen to enrich the wll fungi monkeys…) than Argentinians have. Hence can no longer command higher wages than them.
But, with all those designated robbery victims in The Fed’s wealth transfer game now being increasingly destitute: There will be less and less loot available for The Fed to hand to the connected idiot classes as well… Hence why the 20%ers became the 10%ers,and now the 5%ers,soon to be the 2%ers etc. Receiving wealth transfers stolen from others certainly is _a_ way to get wealthier than one’s non existent “skills” would otherwise afford one. But, paraphrasing Thatcher: At some point, even The Fed does run out of other people’s money to redistribute to it’s favored captive deadweights.
New Fed money is limited to amounts the US Congress authorizes the Treasury to borrow. Or so the story goes.
Not when everyone knows, with 100% certainty, that congress will borrow and authorize any amount of monetization in order to bail out its favored leeching class members. Lest; as all well indoctrinated,100% idiots are told ad nauseam to mindlessly regurgitate: The insult to literacy and nothing but referred to “the syyyystem” “wiiiillll colllaaaaapse.”
The clueless members of the simpletonian indocrinati, do seem to genuinely believe that there exists as much as the tiniest corner case of this “system” which there is somehow worth preserving even the faintest whiff of. There isn’t. Never has been, never will be. But that will never stop the idiot parade at The Fed from continuing to do so, at any cost, until the very bitter end. No matter how singularly, onesidedly destructive; and absolutely nothing else; doing so inevitably, and obviously, is to absolutely every single tiny facet of America.
I don’t know what your thinking because I’m a landlord in Warsaw and I’m getting 2100 USD a month for a one bedroom People are living very well there out to dinner, bars, theatres New cars I’ve even seen Ferraris and Maseratis Times they are a changin as Dylan would say
Hezbollah top 10 were killed on Fri. They came to their meeting without injuries.
Their Bleepers didn’t blow up. Their bleepers might have transmitted their GPS, like a suitcase in an airport. Raisi, Iran president, might have been killed by a communication device. So is Haniyah
Off topic.
off topic on a slow day.
White girls vote for killing their reproduction assets, but Muslims and the Black Nazis are against abortion, which eliminate their constituencies. In the last few years we imitate China. All we need is a few EverGrande with cream and sugar.
Hey watch yourself Engel my wife is a Tatar/ Turk secular Muslim and one of the loveliest, kindest souls I’ve met in my 70 years Don’t generalise EVER Growing up my best friends were Jewish so I’ve seen it all
and with homelessness now being jailable, we have solved the problem of “the Poors”. Can’t afford a place to stay? Don’t worry, big Gov has your back, you’ll be sleeping in jail!
Jaila are better and safer than the streets in a winter cold night. A homeless man tried to assassinate a king in order to stay in jail
yes jailing the poor is the proper thing to do. finally, we can have the genocide we always wanted.
The trick is getting sentenced to a jail with swimming pools and a golf course and with tennis courts. Oh, and a complete weight room with steam room.
Wonder if Diddy will get all that or just “ Epsteined”
It’s the new, improved, high tech version of medieval feudalism.
“My call remains. Renters (primarily young voters and Blacks) will decide the election.”
I agree with that view except I think it will be young women who constantly have their rights trampled on by old out of touch men that will decide the election. The “Swift” effect is real and voter registrations surged after the call to vote. White young women have the time to go and vote whereas renters and blacks, working three jobs, won’t take time off to go vote for a clown that won’t fix anything.
Don’t forget how all those states voted to preserve abortion rights, even the deep red ones.
Meanwhile, 5000 boomers expire every day and have been since January 20, 2021 (Trump’s last day in office). That’s 1340 days x 5000 = 6.7 million trump leaning voters gone forever.
It always comes down to math. Will Trump makeup 6.7 million voters or whatever percentage that voted from that group? Nope.
And don’t forget Gen X, the next group that will become the “seniors” is a much smaller group and the parents of all those millennials so they won’t help either.
Slowly but surely, Millennials will take all of Congress and everything else in time and their view on work, philosophy on life and plans for the future are very different from the boomer view.
Plan accordingly.
What rights have ‘White Women’ lost recently that would push them to the polls in droves to vote?
Please don’t beat the dead horse of abortion. Kamala hasn’t even said she’d pass a right to abortion law at the national level. The reason is obvious, she can’t do it (would never get the votes in congress/senate to pass such a law). More importantly the Democrats don’t WANT to do it because it’s a ‘trigger’ they bring up every 4 years to get people to vote for them under the guise they are protecting your rights. The Republican’s use the 2nd amendment ‘trigger’ every 4 years to do the same thing.
If anything, white women (women general really) probably want more protection from rapes, robberies, assaults etc. You get that from more law and order, not from more defund the police.
Interestingly the Pope all but endorsed Trump by telling Catholics to choose the lesser of 2 evils (murdering babies or not welcoming migrants). Given 99% of all the illegal migrants are Catholic that would seem to throw a wrench in the Democrat idea that they are voting Democrat.
https://economictimes.indiatimes.com/news/international/us/pope-francis-labels-both-u-s-presidential-candidates-as-evil-urges-american-catholics-to-vote-for-the-lesser-one/articleshow/113354143.cms?from=mdr
You just affirmed, “…trampled on by old out of touch men…” in real-time and on multiple levels. Thanks.
he did. itwas hysterical to read.
Here in MN, the outgrowth of Dobbs is that you can now abort your kid until he graduates from high school. Study hard, kids, and don’t talk back to Mama. Tampon Tim Walz will undoubtedly support state funding for all post-birth abortions. Maybe even hire snipers.
I think you are confusing MN with Kanada
I think Americans stopped listening to Popes some time ago (if they ever did).
Illegal immigrants don’t vote here, so who cares.
but they do get power by their census count for gerrymandering……
Exactly this is why we are circling the drain. Those entitled sniveling snowflakes will ruin the country. There will be a fourth turning and people with conservative values will take our country back.
Conservative “values” people aren’t having any more kids than liberal “values” people. Both suffer from the desire to live beyond their means which means less or no kids altogether.
If your statement were true then Wyoming should be having a booming population but it’s declining along with most other states. The only population growth in any states is coming from immigration or people moving from one to another, not actual reproductive growth.
Yup that was my experience My ex wife had two abortions while we were married without my consent because she said they would have interfered with her lifestyle Sad what people have become Glad I got rid of her in 2008 Was VERY costly but worth every penny
When senior gen X retire social security will payless monthly checks.
Nah, the checks will be bigger.
A Big Mac will cost $50, without fries or a drink.
Exactly The checks will be WAY bigger Got Gold ? You should
“be young women who constantly have their rights trampled on by old out of touch men”
Sounds to me like you need a serious dose of reality.
Alternatively, get another booster, put on your mask, crawl back into your safe space, see you in January.
This may be the single dumbest comment ever posted on this site.
Unbelievable.
You’re in denial of reality.
https://www.desmoinesregister.com/story/news/politics/iowa-poll/2024/09/22/most-iowans-support-legal-abortion-oppose-iowas-six-week-ban-new-iowa-poll-shows-fetal-heartbeat-law/75180451007/
If you want to see trampled on just read my life story regarding divorce in NYS Nightmare doesn’t do it Justice
Here ya go.
https://www.nbcnews.com/health/womens-health/texas-abortion-ban-deaths-pregnant-women-sb8-analysis-rcna171631
correct. i’ve been making GOTV calls to AZ and NV since May. specifically to get folks to sign the ballot initiatives/state constitution on women’s rights against the trump abortion bans. the numbers of working class young Men and women that support this is staggering. if you are 25 or 30 with a wife and kids or just single guy with girlfriends…….you want choices. the geezers have forgot. i think.
Is that over 30% of gross or net income?
Did I miss that?
Usually gross income; net depends on marriage-kids-deductions; and transfer payments (EITC, SNAP, EiEiO, etc)
Plus gross/net ain’t much different for we poor folk!
Yes. That makes sense.
Thanks, not.
Only vacancies and glut will stop the rent bubble. If renters are in distress what about
homeownership that cost twice as much.
With 12.5M new illegals and millions more coming, there’s no glut of vacancies on the horizon. Rest assured Queen Elizabeth Warren & the UniParty will make sure rent & mortgage relief make a come, when a nasty recession arrives.
11 million Haitians should be beneficial then
Kamala grew up in a middle class family
As American as the Montreal Canadiens.
She spent most of her childhood in Montreal with her mother after her parents divorced.
Sorry.
It’s obvious that Kamala never grew up.
Wonder if she was a victim of sexual abuse as a child ? Just a thought
good Q> Her mad skillz were developed somehow….
well the mils/gen Z today are very LAZY
they don’t work very hard, take many days each MONTH off
then complain when they can’t make ends meet
—–
I spoke with guy who runs 32 workers – fired 2 last week so looking again
routinely says he’s frustrated with lack of morals/ethics
he’s ready to hang it up at 75
considering some 10,000 workers retire(think of all experience/skills they take off board)
there are virtually no one to take their place
Do you think maybe they are looking at their prospects for getting ahead if they work hard, deciding they aren’t realistic, and figuring, why bother?
Just curious, do you think your generation (Boomer? X?)’s prospects were better, worse, or about the same when you were at the stage in your life/career that the miles/gen Z are today?
ell, they can’t be THAT depressed. Drug overdoses were down last year. That indicates LESS unhappiness.
As a Boomer I’m certain their prospects are worse than mine were but that’s no reason to be a quitter I was depressed during my divorce maybe even suicidal but I chose to get my butt to work, find a better life and get over it Today I’m back to where I was in 2008 financially and much happier Perseverience pays off, sometimes
Agreed. In my line of work, I here that story once a month, every month.
It would be nice if America would prioritize skilled labor for our immigration instead of the global tidal wave of whom ever the _uck can get to the border your in routine.Not even going to call it a policy.
And while I agree with Mish on renters, but a lot of them do not even vote……..So I am not convinced that will swing the election for Trump. I could be wrong, I guess it depends how bad it is getting, and it is only getting worse financial wise for renters to make ends meet.
And after this last election, I am convinced those who do not vote get a vote cast for them somehow as the Democrat machine has modernized on how to steal an election, both legally and illegally.
Yep, the older you are, the more likely you are to be a homeowner and the more likely you are to vote. Younger people are statistically less likely to own homes or vote.
Your assessment of our immigration fiasco is more than fair. The legal version is nearly impossible, which basically means only criminals willing to flout inmigration law (along with many others, no doubt) get in. That certainly doesn’t seem like a prudent policy.
I’m 70 and the last vote I cast was for Ross Perot
When the boomers were at the same age they were hippies, on drugs and for free sex.
Even Tiny Tim.
Tiptoeing through the tulips…
…and rock and roll.
I was more into Anne Murray, Elvis, Jackson 5 , Guess Who
Anne Murray???
Please tell me that was a phase. A short phase, like maybe a 4 bar humming phrase
LOL! that is true to some extent But that is not me. And those boomer hippies; alot have been teaching at our universities and have been brainwashing our kids for the last 50 years
You’re right My son has never been the same since 4 years at Georgetown
could have been worse…….I just drove past Vassar.
They teach the women to hate the white man and praise palestine.
Not all of us I always gravitated to more conservative girls and lifestyle Hippy girls didn’t do it for me and although all my friends were popping qualudes and acid I only smoked a few joints and had a few beers Boring I know
Smoking weed and drinking beer is like pissing into the wind.
-Fearless Franklin
Unless we’re talking tradespeople, if the 75 year-old needs to work with AI tools or should retire too. His replacement will get more done with fewer humans using AI.
If we’re talking min wage employees, their time is short-lived; I get better service in Target and Home Depot using the AI powered app than asking an employee.
That is where AI/Robots come into play. Here is just one simple set of demo’s across about 2 minutes. There are many companies working on humanoid robots now and even some being used in businesses NOW.
So let the kiddies “quiet quit”. They will be living in a tent sooner than they think.
Astribot S1: Hello World!
Astribot
Apr 25, 2024
Meet Astribot S1: the Next-Gen AI Robot.
– AI-powered. Unparalleled agility, dexterity and accuracy.
– The future of AI Robot is here, and it’s Naturally Yours.
https://www.youtube.com/watch?v=AePEcHIIk9s
The only place I’ve ever seen an actual robot in a restaurant was in The Netherlands. The robot basically brought out finished food on trays from the kitchen and then took dirty trays back to the kitchen. It was cool to watch but it didn’t pick up the trays or put them on tables, waiters still did that work but it kept them from having to walk all the way back to the kitchen.
I don’t know if it actually saved any money and looked more like a gimmick but it’s at least a start.
The main problem is I don’t see how you can program a robot to fix plumbing, electrical or carpenter issues. I suspect they will be ‘assistants’ to actual people doing work rather than replacing workers.
Additionally, the software licensing, maintenance, security patches, help desk and other subscription “fees” will make robots marginally more cost effective than an actual person at least until we have fully autonomous robots like in the movie iRobot but then we’ll have much bigger problem with robots that can think for themselves.
I can already see the robot unions on strike. lol.
The fact that you don’t yet see humanoid robots in general use in fast food or retail is more a function of the fact they are still early stage and cost too much for most franchise owners.
Robots have been used for years in many companies and continue to replace human workers. A number of companies, including BMW, Mercedes, Tesla and Hyundai are currently trialing humanoid robots.
GAI incorporated into robots is enabling the machines to learn new tasks quickly, as opposed to slow and inefficient programming via rules as used to be done.
THIS is going to be the game changer. Here is one article to consider. It’s a year old and much additional progress has been made in that year.:
Another article. I’m doing these individually because we are only allowed one URL w/o moderation review.
Robots are pouring drinks in Vegas. As AI grows, the city’s workers brace for change
By Deepa Shivaram
September 4, 2023
Walk any direction in Las Vegas and it’s easy to find machines doing human work.
Check-in kiosks have replaced people at the front desk of hotels. Text-bots now make restaurant recommendations instead of a concierge. Robots can serve food, and behind the bar, machines are pouring out drinks.
Automation and technology replacing jobs has long been a conversation in Nevada’s most populated city. Studies show that between 38% to 65% of jobs there could be automated by 2035.
With the use of artificial intelligence on the rise, the economy of this city –which relies on tourism and hospitality — is at an inflection point, as companies look to technology to reduce labor costs.
…
https://www.npr.org/2023/09/04/1197138244/vegas-ai-workers-brace-for-change
Robotic hookers will be next What happens in Vegas stays in Vegas Is that considered cheating ?Asking for a friend lol
I’m looking forward to a future robotic house cleaner, cook and sex object that won’t argue with me.
This is hogwash. I’m a millennial doing 50+ hours of skilled labor per week as a self employed (1099) “contractor.” I have plenty of friends of similar age who work hard and some of them work longer hours than I. Farmers, builders, excavators, etc.
We’re around. But we aren’t at the local sweatshop where bean counters expect us to do a mind-numbing task for peanuts so they can get rich off our labor. Younger generations have been forced to become job-hoppers: average length of time at a job keeps going down because employers are not loyal to their employees and don’t treat them fairly, so the laborers move on and find a better gig or strike out on their own.
I just moved three hours away to a lower cost of living area where I could make better money doing the same work with lower expenses. It is working out well.
Priced in gold, the average worker makes less today than he did in 1910, and there were no income or payroll taxes in 1910. Companies pay crappy wages and seem surprised that they end up with crappy workers. It doesn’t take an advanced degree in mathematics or human psychology to figure out what’s going on.
You’re an anomaly Spud Better invest your earnings in Gold and wait for the housing collapse which is coming
Just in the last week i have heard multiple 40 year olds complain about obscene electric bills.
What part of California?
Pacific Gas & Electric rates are about 45 cents a kwh plus local utility users taxes which can add another 15 cents a kwh.
Income based electric bills coming to CA in 2025.
Poor folk don’t pay anyway so why bother billing? — A climate controlled house with a microwave is a human right.
15 cents a kwh should read 15%.
Lol
Back before I wised up I was getting fleeced monthly living in Sag Harbor NY 32k a month property taxes on 2 houses Crazy propane and electric prices and a whacked out wife who had to go to Vidal Sassoon on Fifth Avenue for a dam haircut I’m done ranting
32k a month on 2 houses appears to be too high even for Sag Harbor. Were they built for the Rockefellers?
And as a home/property owner I can attest to the fact that today combined taxation + insurance are very nearly on par with a mortgage – there is no getting ahead in this scenario & the only tools the Gov’t has is increased taxation + currency creation.
Yep. 50% property tax increase last year.
wow. where ?
My taxes went up 50% in Wilson NC.
They only reassess every 8 years, so with all the property appreciation, 50% was expected.
I suppose this can vary by state, but generally an increase in appreciation is followed by a similar decrease in the tax rate. I know politicians fudge a bit here, but the relationship generally holds
Appreciation here was over 120% the last 4 years.
MY taxes went from 900 to 1800.
The mill rate went down, yes, but the overall amount I’m paying doubled. No one cares about the Mil rate anyway, all they care about is how much more they have to pay.
No. An increased assessment is often followed by an increase in the tax rate – if the taxing authority needs more money to pay pensions.
Decrease? You joke, no?
My property taxes in California are protected by the 1978 Jarvis-Gann Proposition 13. But the state income tax bill is very high.
Wilson wasn’t that Tom Hanks buddy
Wilson was not a square and not conservative at all.
Lexington KY PVA updates about 20% of neighborhoods every 4-5 years. This year most of my neighbors went up 30 to 80%.
That’s only in a few places.
Here in NC my taxes and insurance are combined just 2600 a year, on a 300k property. This is after they went up 50% this year.
2600 is just 3 percent of my salary.
You doin good kid
In 2008 my homeowners on a 1500 sf cottage in the Hamptons went from 2k to 4 k in one year That’s nuts I knew back then it was time to get outta Dodge I own three houses and two apartments now Total property taxes 1800 Polish Zloty( 450usd) annually