10 ms·

This is nonsense. E.g. you can sell a house tax-free no earlier than two years after you’ve bought it, and only if you oived in it — if not, you need to wait 10

This is nonsense. E.g. you can sell a house tax-free no earlier than two years after you’ve bought it, and only if you oived in it — if not, you need to wait 10 years for a tax-free sale.

deleted 4y ago
[deleted]
TacticalCoder 4y ago
Two years if you live in it is not very different from one year. The 10 years for secondary houses is about preventing house shortages I guess. People need to be able to buy or rent a place to live: nobody needs to own cryptos.
PinguTS 4y ago
Funfact, if you move in directly after buying, you can sell it even in the very same year tax-free in the gains. The two years plus 1 day rule applies only of the curse of 10 years, if you haven't moved in directly.
Mo3 4y ago
Real estate is not a traditional asset class.
- trashtester 4y ago
  I always used to think that real estate / claim to territory was the most traditional asset of all, dating back way farther than our species.
  - randbox 4y ago
    No other species has the recorder of deeds \ title registrar \ court system to enforce claims over territory in absentia without the continual presence of the beneficiary. Even among humans most of Earth's territory is considered common property and not excludable or conveyable personal property when considering the ocean. Practically speaking something is only an asset in a financial context when ownership can be conveyed on paper and pledged as collateral for a loan.
    - trashtester 4y ago
      Many animals use urine to "write" their claim to ownership. Trespassers get punished severely, and they know it. The message implies a high willingnes to enforce their claim, even at significant risk. Rivals usually stay away unless they are either desperate or confident that they are superior. I would argue that these are the instincts that form the basis for our concept of ownership of assets, and predate our modern justice systems by tens of millions of years.

This is nonsense. E.g. you can sell a house tax-free no earlier than two years after you’ve bought it, and only if you oived in it — if not, you need to wait 10 years for a tax-free sale.

deleted 4y ago

[deleted]

TacticalCoder 4y ago

Two years if you live in it is not very different from one year. The 10 years for secondary houses is about preventing house shortages I guess. People need to be able to buy or rent a place to live: nobody needs to own cryptos.

PinguTS 4y ago

Funfact, if you move in directly after buying, you can sell it even in the very same year tax-free in the gains. The two years plus 1 day rule applies only of the curse of 10 years, if you haven't moved in directly.

Mo3 4y ago

Real estate is not a traditional asset class.

trashtester 4y ago
I always used to think that real estate / claim to territory was the most traditional asset of all, dating back way farther than our species.
- randbox 4y ago
  No other species has the recorder of deeds \ title registrar \ court system to enforce claims over territory in absentia without the continual presence of the beneficiary. Even among humans most of Earth's territory is considered common property and not excludable or conveyable personal property when considering the ocean. Practically speaking something is only an asset in a financial context when ownership can be conveyed on paper and pledged as collateral for a loan.
  - trashtester 4y ago
    Many animals use urine to "write" their claim to ownership. Trespassers get punished severely, and they know it. The message implies a high willingnes to enforce their claim, even at significant risk. Rivals usually stay away unless they are either desperate or confident that they are superior. I would argue that these are the instincts that form the basis for our concept of ownership of assets, and predate our modern justice systems by tens of millions of years.