The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (35261)	7/13/2005 1:03:31 PM
From: Tradelite	Read Replies (2) of 306849

John, you and redfish seem to be basing your views on a fairly recent and probably temporary phenomenon in the housing world--namely, wild upward swings in home values in short periods of time. Aren't you one of those who keeps saying that party will end? It probably WILL slow down and has already slowed somewhat in my part of the country. Lawmakers probably didn't anticipate this type of market action when they made that two-year rule exempting up to $500K from cap gains tax. And it was probably assumed at the time that someone who KNEW he would have to move in two years probably wouldn't buy anything at all. We could see a return to that reluctance to buy for the short-term in the very near future. Meanwhile, as long as our government continues to make homeownership a policy matter, it isn't going to zap young and old alike with a heavy tax penalty if they have to or want to sell and move in two years. Forget the speculators. They will probably die a natural death no matter what happens with the tax code.

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