BREAKING: Affordability is better than a year ago because wage growth is outpacing home price growth according to @NAR_Research
https://t.co/0TxolJ2j93
I'm always a fan of reducing tax obligations. This, however, is capital gains tax, so it is a rare issue where your home value, adjusted for improvement costs, exceeds $500k.
How about we remove it altogether or tie it to an inflation-adjusted figure and never talk about it again?
Congress just passed one of the most significant housing bills in decades, and now lawmakers are eyeing a capital gains tax cut that could let individual home sellers keep up to $500K in profits tax-free, and up to $1 million for joint filers.
Read: https://t.co/EvIPoCeFxJ