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You can use your equity in the first house to buy the 2nd house, right? And this person with the $2M home in California can, even after taxes and transaction f
by avidiax 5y ago
You can use your equity in the first house to buy the 2nd house, right?
And this person with the $2M home in California can, even after taxes and transaction fees, recover their original investment, plus have enough left over to e.g. buy a $1.5m home in cash, or a much higher priced home with a mortgage?
- acchow 5y agoThat is not at all a trade. That is picking up more debt to make up for the tax losses when trying to swap homes. Suppose you haven't worked for the past 20 years.