Time to loosen zoning restrictions and say no to NIMBYs Ms. Mayor. *
Despite earning around $90,000 a year between her work as mayor, regional councillor and with the local electric utility, she says she can’t afford to buy a home in the municipality she leads.
* yeah, she’s still paying off student loans, and I don’t know what zoning restrictions are like in her community. But still.
That is true. The value of my home doesn’t mean much to me. If it is worth $1 tomorrow, oh well? Who cares?
But it is troubling to think what will happen when most other homeowners are underwater and their debt gets called. That is going to hurt all of us.
HELOCs may burn some folks. They were gaining popularity while interest was low. That is going to add to the burden of those who loaded up on debt.
I might actually be happy if my home was suddenly only worth a dollar.
That would cut my property tax way down