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In Dallas, I've been talking to a lot of ppl who are saying the same thing: They bought when housing prices were low and got crazy good deals on their homes. But now values are skyrocketing. Initially that seems great - your property just saw a 45% increase in value & you didn't have to damn thing but live in it. But the flipside is that the increased value caused their taxes on the home to increase too. One couple saw their monthly mortgage payment nearly double just off the tax increase. Ppl are appealing the increases, but who knows how that will work out & for how long.
Just something to think about.
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"Simplicity is the key to brilliance." - Bruce Lee
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