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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (172017)	7/19/2003 12:07:45 PM
From: steve harris	Respond to of 1576826

regime change in california foxnews.com

To: Jim McMannis who wrote (172017)	7/19/2003 1:17:16 PM
From: tejek	Read Replies (2) \| Respond to of 1576826

NO TED, That's been changed. Clinton changed the law in 1997. You can sell your main residence every 2 years and pocket up to $500,000 dollars TAX FREE every two years!... So what does all this flipping and moving and tax free money does to the price of housing? Frankly, I've never heard of this change and plan to ask my accountant about it. However, I do not believe great numbers of people are selling their homes every two years to take advantage of the change in the law. Maybe speculators but they tend to be a small group that takes advantage of every loophole in the law. But let me assure you, the current bubble like condition in the housing market is not from this law and does not extend to all markets in the country. In fact, not one analyst has attributed current conditions to this law. Instead, the blame is placed on demographics and weakness in the stock markets. And in metro areas like Seattle, any bubble like conditions are quickly evaporating with the increase in the unemployment rate.