[Fido969]

The fact is housing prices don’t affect most homeowners. If you have one home and don’t plan on selling, it really doesn’t matter if the value of your home goes up or down, unless you are using the equity to get a HELOC. Even then, if you’ve lived there a while, you have a fair amount of equity already.

The people who have to sell and buy elsewhere, benefit from the high or low values on each side of the equation.

People who are retiring now, and who have looked at the value of their homes as retirement, or people who need to sell a second home will be hurt.

[Paladin2]

“it really doesn’t matter if the value of your home goes up or down”

Three words:

Property Taxes

[Svartalfiar]

The fact is housing prices don’t affect most homeowners. If you have one home and don’t plan on selling, it really doesn’t matter if the value of your home goes up or down, unless you are using the equity to get a HELOC. Even then, if you’ve lived there a while, you have a fair amount of equity already.

Not all that much, but it does some. Most property taxes fluctuate and are based off your home's valuation. So when the neighborhood doubles in price, your taxes double also.

If I was in charge of stuff, home sales prices would be reported to the county, and your home evaluation for tax purposes is frozen at that amount until the house is sold or transferred. If the city/county/school wants more $$, then they can pass a tax increase, instead of sneaking one in every year by increasing your assessment (which is difficult to argue against).