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

To: Tradelite who wrote (35264)7/13/2005 1:07:25 PM
From: redfishRead Replies (1) | Respond to 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.



To: Tradelite who wrote (35264)7/13/2005 1:09:48 PM
From: Elroy JetsonRespond to of 306849
 
Real estate prices go up and they may go down.

But your greed for more public subsidies and welfare remains constant.

Your Mother is partly to blame for raising you with a sense of entitlement that you should be supported by the general public.
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