Interesting story in The New York Times about initiatives in Boston, Philadelphia, Washington, Pittsburgh, Detroit and other cities to freeze property taxes for lower-income homeowners in an effort to "promote neighborhood stability, preserve character and provide a dividend of sorts to those who have stayed [in the city] through years of high crime, population loss and declining property values." These tax adjustments are part of a broader strategy by cities to aid homeowners who continue to struggle since the home mortgage crisis. Housing experts say the arrival of newcomers into formerly working class neighborhoods such as the Mission District in San Francisco is more disruptive than it used to be because these newcomers tend to move into new condominiums or lofts instead of existing housing. Read MORE.
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