Taxes Are A Killer When House Hunting
It is a shame how much taxes can affect the cost of a house in certain areas. A monthly mortgage payment can be much higher than in some regions because of taxes making up 40% of the mortgage payment. If property taxes were similar in all areas of the country, it would be much easier to see how the real estate market goes across the country.
Someone that can afford a $250,000 house in Atlanta may be only able to afford a $175,000 house in Buffalo. An example of a $400,000 house in the suburbs of Buffalo can have taxes as high as $15,000 a year. This makes these houses not affordable to even upper middle class workers.
Hopefully politicians can keep property taxes in check.