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

To: saveslivesbyday who wrote (58832)	8/2/2006 10:54:02 AM
From: Beachside Bill	Read Replies (1) \| Respond to of 306849

I appreciate your source on second homes. It appears that they are saying those that bought are speculating on prices to go higher without anything to back it up. Perhaps it is a cultural change ... My father has three homes and it is not for investment purposes. I guess if the price went high enough he would sell though. Sometimes the economists and analyst don't understand a cultural change.

To: saveslivesbyday who wrote (58832)	8/2/2006 11:24:30 AM
From: Jim McMannis	Respond to of 306849

"The trend really started after 1997, when Congress changed the tax code, allowing most homeowners to duck capital gains taxes when they sold their homes. The exemption is $500,000 for married couples, $250,000 for singles, if it was their primary residence for two of the past five years." Interesting that someone really sees this. <G>