Increasing property value shows up on the balance sheet and the only way to access it is to sell the property and leave, or take on debt.
Increasing property values also mean increasing property taxes, which show up in expenses and are due every year whether or not you have the money to pay them.
Does taking out a home equity line to pay your taxes sound like a good idea to you? Me neither, and that's why rising property values are often not welcomed by residents who are not already financially well-off.
This does not even get into the impact on renters, who might face being evicted so a property owner can sell, or rents rising faster than their wages.
Increasing property values also mean increasing property taxes, which show up in expenses and are due every year whether or not you have the money to pay them.
Does taking out a home equity line to pay your taxes sound like a good idea to you? Me neither, and that's why rising property values are often not welcomed by residents who are not already financially well-off.
This does not even get into the impact on renters, who might face being evicted so a property owner can sell, or rents rising faster than their wages.