Potential End of Capital Gains Tax Could Benefit Homeowners Nationwide
TL;DR
Many older homeowners in the US are discouraged from selling their homes due to the capital gains tax, which may be contributing to a housing shortage. There is bipartisan support in Congress to reform or eliminate this tax to increase housing inventory, with some proposing to double the exemption thresholds. However, experts warn that such changes could have unintended consequences, including rising home prices and increased federal costs, and may disproportionately benefit wealthier Americans.
Topics:top-newsreal-estate#bipartisan-support#capital-gains-tax#home-sales#homeowners#housing-shortage#real-estate
- Meet the boomer homeowners who are sitting on their valuable properties because of a tax they hope is on the way out Business Insider
- Eliminating capital gains on home sales would be a boon for older homeowners in high-cost states Yahoo Finance
- Homeowners in these states are the winners if Trump ends capital-gains taxes for home sellers MarketWatch
- Unlock Your Home Equity: Why Ending Capital Gains on Home Sales Would Be a Game Changer for Retirees Kiplinger
- Trump just floated a tax idea that would hugely benefit California homeowners San Francisco Chronicle
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