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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (35264)7/13/2005 1:07:25 PM
From: redfishRead Replies (1) of 306849
 
"The homeowner also pays income tax on his personal earnings, and uses some of his remaining dollars on the home's roof, furnace, air conditioning, carpet, whatever."

These are all capital improvements (i.e., useful life of more than one year) that get added to the owner's basis in the property and thus reduce his tax gain on future sale, so the homeowner does get a tax break for these items.
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