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

To: bentway who wrote (69401)12/26/2006 11:36:59 AM
From: CalculatedRiskRead Replies (1) | Respond to of 306849
 
Jim and I have gone round n' round on this issue. I won't rehash the old debate. But Jim posts about the '97 tax change frequently - many economist think it was basically irrelevant.



To: bentway who wrote (69401)12/26/2006 12:27:47 PM
From: John VosillaRespond to of 306849
 
'Me too! I think the lowest interest rates in 50 years coupled with the lowest lending standards in my lifetime did the trick. Any effect the homestead tax exemption had was miniscule.'

Put me in that camp too when you are talking nationwide effect. The impact of the 500k exclusion Jim talks about was felt mostly as a once in a lifetime boost in relos from high cost CA and the NY area to AZ and FL allowing them to take a huge nest egg with them to those new areas..


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