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Re: Uphill struggle

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  • John
    ... When the mortgage is paid off, all is theirs and most people live longer than 30 years. So if a house + land is 150K and interest over 30 years 140K, that
    Message 1 of 32 , Jan 21, 2013
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      --- In LandCafe@yahoogroups.com, John David Kromkowski wrote:

      > It remains unclear to me that homewowners
      > are really the culprits. Their
      > "windfalls" from land appreciation are mostly
      > recouping the interest that
      > they paid on their mortgages.

      When the mortgage is paid off, all is theirs and most people live longer than 30 years.

      So if a house + land is 150K and interest over 30 years 140K, that is 290K for all their lives. The rent it is until you die.

      Why do people buy houses and rent them? Because they make money and the asset value of the house/land.
    • roy_langston
      ... Yes, and even VACANT residential land. ... Which wouldn t get UIEs. ... So their UIEs would surely cover their LVT. ... Yes, but the suggested UIE of half
      Message 32 of 32 , Jan 24, 2013
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        --- In LandCafe@yahoogroups.com, John David Kromkowski wrote:

        > KJ: "Most of the land value is in residental properties."
        >
        > JDK: This is a bit confounding. Because that it includes landlords and idle speculators who are even leasing the properties.

        Yes, and even VACANT residential land.

        > In Baltimore, 58% of the land value is controlled by the top 10% (all corps) of the land owners.

        Which wouldn't get UIEs.

        > The bottom 10% (of those who even own land at all) control less than 1% of the total land value.

        So their UIEs would surely cover their LVT.

        > In Maryland, the per capita land value is like 80K, so a "fair share" would
        > be about 320K (maybe less if Walt doesn't kids are entitled to a per capita
        > share - whatever -). Individuals are not using nearly that much land value.

        Yes, but the suggested UIE of half the median land value used by human persons would be more like $20K, maybe even less, so that only works out to at most $80K for a famly of four. Not too generous.

        > In the US, I would definitely dispute the theory that most of the land value is residential.

        If you are talking about location value only, most is definitely residential. If you want to include minerals, broadcast spectrum, water, etc., then no.

        > The beef is about entities (corps or individuals) using more than the fair share of land without paying the LVT.

        Right.

        > Taxing land stops the cycle of boom and bust, but does it actually make
        > the economy better (especially if it is thrown in the sea - sorry Harry).

        Probably not if it is thrown in the sea -- or spent on bombing foreign countries -- but otherwise, yes.

        -- Roy Langston
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