The problem is that it’s a mismatch between wealth and income. Property taxes are taken from income, and if your income doesn’t increase in line with property taxes that may rise completely out of your control, you essentially may have to sell your house to pay property taxes. That doesn’t seem like a good solution to me.

I was thinking on the way home that maybe you lock property taxes in but then you have to lock your home price as well, but that probably wouldn’t work.

With respect to your last sentence, I think one of the issues is that we actually mix public policy into home prices. You can’t want a free market and also not want a free market. It seems like many home owners have chosen to not have a free market when it comes to home prices. It’s also not helpful because, like medicine, your home is a big deal. Uprooting you’re family is a big deal. Think about how a family feels if they buy a house, all of a sudden their neighborhood is “cool” and then they have to uproot their family because rich people push them out?

Not a lot of good solutions to a big problem here.