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Wouldn't the obvious fix be elimination of 1031b exchange, capital gains on all house appreciation, and only allowing 1 active federally backed mortgage at a ti
by cobookman 5y ago
Wouldn't the obvious fix be elimination of 1031b exchange, capital gains on all house appreciation, and only allowing 1 active federally backed mortgage at a time (with some consideration for allowing a purchase of a new place & selling the old place).
- VirusNewbie 5y agoYou want capital gains on land appreciation. We want to encourage investment into new developments.
- 8note 5y agoThe land appreciates without development on it. If anything, we want only appreciation from developing. If you don't do something to the property, you shouldn't get a profit from it
- Retric 5y agoI think that’s what they where suggesting, however that’s really expensive and hard to implement. If you simply calculate based on the value of the land then a 200 year old house counts as “new” development etc. Worse it doesn’t actually help. The incentives are there to develop land it’s only local zoning that prevents it.