I'm not seeing how the "No Capital Gains tax on home sales" helps the housing shortage.

[MarathonMike]

MTG is occasionally off base and I think she is on this bill. First of all there is already a $500K exemption on capital gains on sale of primary residence ($250K for singles). So the houses that would potentially enter the market with this bill would be upper 6 figure to million dollar plus homes which would be out of reach for most home buyers. And if you have that kind of money, you could build your own home. Maybe I'm missing something but I don't get her logic on this one.

 

[Winston]

MTG is occasionally off base and I think she is on this bill. First of all there is already a $500K exemption on capital gains on sale of primary residence ($250K for singles). So the houses that would potentially enter the market with this bill would be upper 6 figure to million dollar plus homes which would be out of reach for most home buyers. And if you have that kind of money, you could build your own home. Maybe I'm missing something but I don't get her logic on this one.

Easy peasy, she bought a second home for $610,000, illegally double claimed Georgia's homestead exemption, and she is probably looking to sell, at a profit. Divorce sometimes gets ugly.

 

[Elusivebutterfly]

iI have to stay in my home for two years to avoid a capital gains tax.

If they removed that, many of us would be selling, then buying new homes.