Quote:
Originally Posted by Woogieman
This is not true. The elderly are definitely feeling the pain...they have had depressed valuations for for a long time, and the valuation model is hitting them hard because every part of the city has seen so much investor renovations over the past 3 yrs that is pulling all properties up. The elderly invest very little in their homes, therefore they are getting pulled up way too high based on the renovated sale prices. The software they use does not have a check box for "elderly" or "minority".
Where are you getting the info that "Frank White and city leaders went down"?
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When rentals next door are barely going up in comparison they know who owns what. Hell that information is public record who owns.the house and when it was bought. If it is paid off. What insurance is on the home. Tons of information to determine the rest of the info.
This is a property grab. It also appears they are using past sales during the peak from a year ago on renovated homes for all home values.