This is going to make house prices shoot even higher. They tax stock sales but not real estate. Real estate has another loop where the first 250k gain (not sur

This is going to make house prices shoot even higher. They tax stock sales but not real estate. Real estate has another loop where the first 250k gain (not sure exact number) from sell of private residence isn’t taxed. So people have one house for husband, one for their wife. When you own a house and live it in for more than an year, that can be marked as primary residence. Also mortgage interest is deductible. In so many ways housing comes out as a good investment due to tax savings. Since it’s supply is limited, it becomes a frenzy driving sky high prices. If we want to fix housing costs in Washington, we ought to address the tax incentives. Housing should be seen as a place to live, not an asset to hold. I can’t even imagine how youngsters nowadays can even afford a single family home. A decent 3-4 bedroom is now 1M+, it’s kind of crazy.