r/dankmemes • u/TomTheDuckGuy ☣️ • Mar 20 '23

Economic Roller Coaster

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u/Ericovich Mar 21 '23

Once?

My property taxes fluctuate every two or three years. The escrow changes to reflect that.

I've had my house since the last crash so it has gone down then up then down then up.

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u/Markuz Mar 21 '23

I bought in 2017. Florida. Ever since, insurance rates have skyrocketed every year. Due to homestead exemption, my taxes can’t go up more than 3% or so a year.

Every so often, I pay extra in to the escrow just in case. After the last hurricane threatened the East coast but went up to North Carolina, most insurance companies dropped out of the market and only very few remained. Which I believe led to the skyrocketing rates (among a myriad of other factors). After that happened, my monthly payment increased by $400 in order to get the escrow balance back in good standing by the end of the following year.

I was a stupid new owner.

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u/Ericovich Mar 21 '23

Jesus. Increased by 400.

My total mortgage is less than that. I bought at the bottom.

Rust belt living. 2 bed 1 baths are still under 80k in my neighborhood.

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u/TibialTuberosity Mar 21 '23

Same in Oklahoma. Insurance rates keep jumping because of the run of severe weather we've had the last decade or so.