My response is always to answer that question with a question: “Isn’t doing something better than doing nothing?
A very large group of homeowners remains at constant risk of mortgage delinquency and foreclosure.
If you want to be a homeowner and your employment status and financial house are in order, you can get approved for a mortgage if you can demonstrate that you can afford your new house payment, regardless of your income.
Payment in Lieu of Taxes, is an investment incentive negotiated between a taxing authority (typically a municipality) and a developer. This replaces a traditional property tax assessment with a limited and/or deferred payment, in place, or in “lieu”, of the summer and winter property taxes.