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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (3514)	7/21/2002 1:04:05 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

RE:"Sure beats having the federal government (HUD) and state government (Virginia Housing Development Authority) providing me with a roof at the taxpayer's expense." Seems to me the taxpayers has to make up the revenue shortfall generated by all the tax breaks Real Estate gets. SO either way you look at it. Taxpayers are helping you get that roof over your head. The whopper is the 1997 act. 500k exemption on principal residence, joint, 2 years living in out of last 5. Meanwhile, while all the tax breaks help people buy and flip houses it also drives the price of housing up which actually hurts home ownership, not to the flippers but to those who are first time home buyers or those that haven't been in the flip up game. I wonder who they will point the finger at when the bubble bursts?