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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (31123)5/12/2005 3:29:51 PM
From: bentwayRead Replies (2) of 306849
 
I tell you Jim, the "flippers" aren't cashing in on that tax exemption. Flippers are buying multiple houses, that exemption only works with the ONE house you have to live in for two years. What's fueling the bubble are the historically low interest rates coupled with extremely lax lending standards. The tax break that might help slow the flippers is revoking the mortgage interest deduction on first and second homes. Flippers aren't making out on the tax break, they make out on the appreciation.
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