[Mad Dawgg]

"the tax code should be structured to discourage speculation in residential real estate. this kind of stuff drives prices up for people who actually need to live someplace. its just fueling the real estate bubble..."

Yes, of course, let us get the government involved, they always make things better...

< /sarcasm >

[oceanview]

the 1986 tax reform did exactly that regarding the tax treatment of real estate - Reagan passed that.