Posted on 05/03/2024 5:10:58 AM PDT by Libloather
This is officially no one’s business, but the homeowner.
That said, look to Biden to tax older people in houses he deems too big for them in order to pander to the younger voting block.
Probably will only apply to white homeowners.
Redistribution
Those houses belong to their owners, you commies.
Let’s see, I spend years investing $$$ to make my home just the way I want it, and they wonder why I don’t sell?
A home is equity, money in the bank. Why would someone choose a smaller bank account balance over a larger bank account balance?
We’re not refusing.
We just can’t FIND anything we’d want to buy!
We’re looking for 3 beds, 2 baths and an attached garage.
Nothing but fix-me-uppers or 4 and 5 bedroom particle-board palaces.
We could find more of what we want in another state at decent prices, but we don’t want to move away from our kid and grandkids.
There's a $500k exemption for capital gains on the sale of the primary residence by a married couple; half that for a single filer. See IRS regs for details.
Looking forward, don’t be surprised if the government places thomeless if homes of the elderly. So it go9es in a commie banana republic.
The writer was born in Sardinia, and is based in London.
Don't forget eviction moratoriums and delays, which can mean significant periods of no income from a unit.
Isn't that contingent on buying another home?
“If there are ‘smaller homes’ available for boomers to downsize to, then let the millenials buy those homes. They need starter homes, not mcmansions.”
100% logical.
Realtors don't get paid if people don't sell their houses.
One word, Bidenflation. New homes cost another 50-100k thanks to Biden.
Yep, if they are closer than 500 feet, they are too close.
Good post!
That’s a part of the problem with the assumptions of the article. Aside from the obnoxious implication that you’re supposed to give up your home before you give up the ghost, they are also assuming that there is a shortage of supply, everywhere. I even fell for that premise, to some degree.
The real problem is that a much larger segment of the population cannot afford to buy anymore, and that is a result of inflation and debt, interest rates, and the exportation of our standard-of-living through decades of trade deficits.
I think what the author is really saying is, I don’t want to look like I’m blaming Biden, so I’m going to blame boomers instead.
Forest Biden wants to wreck everything possible before he leaves. Why doesn’t he sell his 5 mansions?
“if they are closer than 500 feet, they are too close.”
We called one next door neighbor, “Gladys Kravitz” (not to her face). I actually have to think for a couple of seconds to recall her real name. The minute she’d spy one of us on the porch, she’d charge on over and start with the chit-chat. A very nice person, but it was too much.
The only time I spent significant time there was when they were on vacation, and when I had Covid. I knew she’d stay away when we have Covid. She did.
Yep. Those Baby Boomers are just selfish and greedy. They need to learn to share.
In the process of downsizing right now. Very difficult. But I think it’s inconsiderate to stick one’s kids with getting rid of the junk.
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