NY Times lists Pittsburgh as having some of the most affordable homes in the country as compared to household income. (https://www.nytimes.com/2022/12/15/realestate/where-are-the-most-and-least-affordable-homes.html)betucsonan t1_j0icdm7 wrote
Reply to comment by no_more_secrets in NY Times lists Pittsburgh as having some of the most affordable homes in the country as compared to household income. (https://www.nytimes.com/2022/12/15/realestate/where-are-the-most-and-least-affordable-homes.html) by Far_Room23
This is huge. I'm looking in both Phoenix, AZ and Pittsburgh, depending on how things work out job wise. When I look in Phoenix I can raise my price ceiling by tens of thousands of dollars compared to Pittsburgh just based on the property taxes alone. It makes a lot of sense considering what the infrastructure costs must be, so I'm not complaining, but a lot of people seem to be surprised by these things whereas they should be considering them right up front.
Side note: even factoring that in, Pittsburgh is much cheaper. In Phoenix a run-down shack in bad need of major repairs and in a truly sketch neighborhood is easily $300k.
woodcuttersDaughter t1_j0ie5ee wrote
What's the long term water situation in Phoenix? My understanding is that it's getting scarce.
dingurth1 t1_j0j0l96 wrote
the metros should be relatively ok. Its the AZ farmers that are being put out of business (as they should be for trying to grow alfalfa and cotton in a desert using flood irrigation).
dingurth1 t1_j0j16xx wrote
I think a lot of people don't consider it up front just because many people don't know how money works or what questions to ask or things to consider/investigate. I don't blame them since financial literacy or navigating local laws isn't something we prioritize in our education system.
Like you see these posts about how people suddenly can't afford their homes because the school districts reassessed and now they're paying more in taxes. When people post the numbers though, the reassessment values still line up with the documented tax rates I've seen.
tesla3by3 t1_j0ltqb7 wrote
Agreed on this, but part of the problem is people rely on things like the online listings that show "estimated taxes" based on current assessment. Realtors should be upfront about the likelihood of the School District appealing, and tell the client to be prepared to pay the tax on what you paid for the property.
semiseriousman t1_j0ihfw1 wrote
It's cheaper, yes, but now I realize you have to figure in an immediate revaluation and tax based on sale price.
Viewing a single comment thread. View all comments