Yes but people who bought new are subsidizing your comparatively low tax rates.
Make money on the <2000 units/yr they build while the owners of the 380K get to capture virtually all of their gains. Which is the pt that
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well, um - I'm guessing that developers r making $$. But have to admit I don't know enuf abt their finances to really make a judgement.
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Most require 20% return on cost.
End of conversation
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