Hot take: This tax bill is a disaster for taxes, but would devastate bay area real estate prices if it passes...
So maybe I'm rooting for it now? @kimmaicutler thoughts?
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I can comfortably go back to hating everything about this bill :)
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It's complicated. I mean.. the goal is... you want housing costs, rents, prices to decrease *relative* to wages.
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Meaning I'm less likely to upgrade to a new home if I'm trading a tax-free interest mortgage for a taxable one? Good point.
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What "induces people not to sell" is the capital gains tax applied to the sale. Proceeds from home sales used to be tax-free if rolled over into a new home.
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