[xzins]

That’s 3800 bucks on a 100,000 dollar house with absolutely no recourse.

It will hurt sales, inflate prices, and deaden markets.

Our government is full of idiots who can only think of getting more money.

They’re in the process of killing the goose.

[taildragger]

That’s 3800 bucks on a 100,000 dollar house with absolutely no recourse. It will hurt sales, inflate prices, and deaden markets. Our government is full of idiots who can only think of getting more money. They’re in the process of killing the goose.

The Obamaton's are doing something sneaky that I see that is true Marxism, in Healthcare, The Fianancial Industry, this in Real-Estate, Insurance via Health Care....

They are destroying peoples "margins", i.e. margins of profit. Profit is a bad word, i.e. Michelle screeding to go work for no-profits.

You can't have a middle class when you are working for nothing in these careers that are time intensive and require relationships to get the sale.

Who will bear the burden of this? the Realtors, many will get out IMHO another group to go Galt....

[Girlene]

That’s 3800 bucks on a 100,000 dollar house with absolutely no recourse.

Not quite. According to this article on Fact Check, A 3.8 Percent “Sales Tax” on Your Home? , I think this is how it works. If you are single, have an income of $200K, then you will be taxed 3.8% on any profit over $250K when you sell your home. For married couples that make $250K, they will be taxed 3.8% on any home sales profit over $500K. There is no exclusion, though if you sell a vacation home or rental property.

It still stinks.

[tbw2]

Won’t this also discourage people from buying at the bottom of this market, because it means when they do sell, they are more likely to have the 250/500K profit on the property in a recovered market AND a higher income bracket when inflation hits?