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American International Group
Letters: Deflating another housing bubble

Re "Home prices surge, sales plunge," April 16 The remedy to working people being priced out of the housing market is to reform property taxes to protect residential property and, especially, homes owned by those who actually live in them. First, tax residential property occupied as primary residences by homeowners or renters at a lower rate than other commercial property or secondary residences. Second, make all property taxes significantly progressive and indexed to inflation to provide affordability incentives favoring modest, middle-class residences owned by those who live in them, or to small-time investors in modest commercial properties. Properties purchased for large-scale...

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