Here's why Americans can't move house. I want to move out of the town and have a bit of land. However, I've been in this house about 10 years. The annual tax increase is capped. Property tax is totally immoral, but that's not my point here. If I move I to a house worth the same as my current house, the due will be reassessed to the new market value. My taxes will about double even though I will have a house the same size. I'm also paying 2.5 percent interest in my mortgage. Moving would also force that to reset to 7 percent. All in all, moving to a house equal in value tomy current house would more than double my payments! That's impossible to live with, so I'm stuck. Like millions of Americans.
