The taxes get factored into the price of the land and the house, not rents. If demand for housing falls such that rent does not make owning a house worthwhile, it gets sold (or force-liquidated through foreclosure), and the new owner at a lower cost basis will let it out at market rates.
> The taxes get factored into the price of the land and the house,
So you have checked with every property owner and verified this?
I actually rent now, from my father (because he makes bad real estate decision despite having his real estate license). After talking with my landlord, who I know well and often talk to, I learned that in this area there are laws about how low rents can be. In his specific situation he is not allowed to rent the property for less than 125% of the price of his mortgage payment which must include the property taxes. Apparently, this is to insure there is money repairs.
So as for houses in Omaha I am fairly certain you are factually in error. I suspect other jurisdictions have other things going on in general, but it seems reasonable that most people do simple things like take their expenses into account which includes tax.
