Quote:
Originally Posted by Biggd
You will probably see an increase in homes for sale if it goes up that much.
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Maybe, but all that will happen is that some who have inherited properties or bought second homes years ago and can no longer afford them will be bought by those who can. There will not be an overall shift of waterfront homes becoming more affordable. Moreover, the very people, the working class, that are essential in town will be forced out as their property taxes and expenses rise. I saw the very thing happen in my town/neighborhood over the past 20 years.