4 ms·
Throw in US federal estate rules permitting a write-up in basis to fair market value at the time of death, allows heirs to have property tax basis from 40 years
by ghouse 8y ago
Throw in US federal estate rules permitting a write-up in basis to fair market value at the time of death, allows heirs to have property tax basis from 40 years ago, but investment basis of today. Both of these policies decrease liquidity in the market and consequently increase prices further.