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quinnchr | 10 years ago

Low income households spend an exceptionally high percentage of their income on housing (http://www.lao.ca.gov/reports/2015/finance/housing-costs/hou...). Meaning they are particularly sensitive to price increases. So yes, it would really suck for your home value to increase a couple percent and have to move. But hey, if there's profit involved who can complain!

Furthermore, most low income households who own property aren't engaging in speculation, they are simply trying to keep the property they inherited.

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