Buy or Rent?

[mathjak107]

Not true. Taxes for one. Home owners dues. Insurance rates go up. Maintenance costs from parts to contract labor never stop rising and real estate values can plummet. My home value went way up 5 years ago and then fell and continues to flatline and slip slightly. Between all the rising costs of owning versus what my home is worth now I will lose money.

In our area rents are a bargain as expenses on homes went up so much .

The issue is more than half of all rentals in nyc and the boroughs are rent stabilized ..even if at market rates the rents are capped each year .

So landlords of non stabilized apartments have to stay competitive

 

[StarSong]

Is it true there is an ongoing attempt to repeal prop #13?

Sorry @Liberty, I just saw this question.

There is occasional low-level noise about it, but as any adult who's lived in CA knows, the residential portion of Prop 13 is the third rail of CA politics. Touch it at your own peril.

There will a November 2020 ballot issue to strip most commercial properties from the Prop 13 protection umbrella. As you can imagine, lots of people are already lined up on both pro and con sides.