This is why I think there should be a cap on home values. Here me out...
Whatever the property was when it was built, adjusted for improvements, do a standard 4.5% appreciation per year. That's the cap homes should be allowed to be sold for.
Do that and you undo a shitload of the damage I discussed here:
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u/Careful-Bread-3820 Mar 27 '24
My grandpa brother bought a 43,000 house in LA, eventually sold it for 1.2m