Reply to MoCo Real Estate for the Naysayers

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[quote=Anonymous]The issue isn't what is happening now, but how MoCo will fare over the next ten years after you plunk a huge amount of cash on a home.  We have no idea how the upcoming school redistricting will affect home prices.  Some people might lose thousands of dollars in home value overnight.  Also economic fact: the county is running big budget deficits. While the credit rating remains good now, if it gets downgraded because of too much debt it'll cause the county to spiral downward because it'll cost a lot more money in the future to fund the spending.  What is almost certain to happen in the future is tax increases, possibly very significant tax increases over the next 5-10 years.  I bet they'll be antsy to jackup property taxes.  Additionally, MoCo is aging rapidly.  All of those households with very high incomes will be disappearing for tax revenues as 30 million baby boomers retire over the next ten years. There simply aren't enough younger people moving in that can afford the cost of living and who also have the same level of tax base to cover the huge loss of baby boomer income tax revenue.  That'll add pressure to increase taxes even more on the county.  There's no way to grow out of the problem either. MoCo has had anemic economic and business growth because of how hostile the county is with NIMBYISM and I already got mine so F you attitudes that are rampant.  Can't economically grow, decreased tax revenue, pressure to continue tons of spending means tax increases coming.  How this might affect flight is the question. Look what happened to a once wealthy city like Baltimore after they kept taxing the crap out of people.  It is now a decrepit shell of former self.  [/quote]

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