Posted on 04/18/2024 12:31:09 PM PDT by TigerClaws
Or zero cap gains if you sell to Blackrock.
Kick out the illegal immigrants and there will be less demand for the smaller homes.
People know that once you move, not only will it be expensive in the tune of 10,000 just to move your personal belongings, but your property taxes will be significantly higher even after a year when homestead kicks in. They think people are stupid.
Commie rubbish.
Exactly what I was thinking. NPR goes into the commie real estate business.
With Bidenomics forcing many of the Boomers kids and grandchildren to live with them I argue that their homes aren’t big enough. They should put their properties into an inherentable trust to insure their families futures.
if they sell them and have a mortgage they will have to finance something else at a much higher rate.
if they sell them and its paid off, they will have to pay a huge tax bill on the appreciation and then still have to pay outrageous amounts for something else to live in
If they instead hold onto it until they die, the basis resets and their heirs can sell it without paying taxes or needing to purchase something else to live in.
This is why.
Problem is that nowadays, it’s almost impossible to find a “fixer upper” in a neighborhood where you won’t get shot.
oh! and if they live in a state where they property taxes are frozen after reaching a certain age... selling and moving they would lose that and have to pay full property taxes on whatever they moved into.
Can old folks even get a mortgage?
I can hear these liberals now —
“It’s not right. Six Mexican families could live in some of these homes ...”
“ This house is too big for you, comrade. We moved 12 families into that space”
Comrade K
Who gets to say my house is “too big” for me?
The governor of Colorado just said exactly that - well, without specifying who he was talking about - as he signed a bill lifting limits on occupancy of homes.
Ratz gotta warehouse their supporters somewhere!
Another example of social engineering gone awry.
In Dr. Zhivago multiple families are living in his large home when he returns. “Yes. This way is more fair.”
Or it’s off to the gulag…
“You’ll own nothing and you’ll be happy.”
I think a primary residence is exempt from capital gains taxation in the U.S.
Here’s the problem. Us old folks own our homes. Regardless of what they sell for, we need to replace them. Whatever we’d buy would generally be a lot less desirable given the prices and how they’re building them now. Also, us old folks just hate change. It’s very disturbing, psychologically. And, what’s my motivation? I want to do something to the younger generation? (Let me check my giveashit meter...nope, nothing.)
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