No Capital Gains Tax On Home Sale Proposed By President. ** Hell Yeah.

[glenn walker]

In California many won't or can't sell because it's a $500,000 exemption for a couple and only $250,000 for single.

With crazy median prices in many areas at $1,000,000 to $2,000,000 plus if you owned for many years your screwed and you just die in it- but that's created entire communities of geezers that have golden handcuffs around their wrists and no homes for sale. Anyways if we could sell and not give half to tax my guess is inventory would get back to normal levels. Maybe in 2026 we can get markets moving again.

 

[gregb]

So, if you did not have to pay capital gains tax, where would you move to and what would you buy?

 

[Fernando]

It may be that push (additional money) for Glenn to finally move out of Felony Flats.

 

[glenn walker]

So, if you did not have to pay capital gains tax, where would you move to and what would you buy?

Me personally it's not a issue because I'm happy where I am and have no mortgages on the two homes I live in.

But for many in my one neighborhood they've been here for many years and only have one home and they won't take the tax hits. So they plan on staying until they die or go to the Sunny Hills. I just think in California and high cost areas it would free up some inventory and help get things going.

One thing about So Ca is your buying the weather and I'm a self declared wimp when it comes to having no interest in fighting snow, rain or high humidity, like in many places. My wife was raised In Manhattan NYC and she has no interest in cold winters and humid summers.