> Another way to think about it: they’re selling at a premium well over they bought it for. Not necessarily. The fact that they're getting priced out right now

> Another way to think about it: they’re selling at a premium well over they bought it for. Not necessarily. The fact that they're getting priced out right now via taxes on the estimated value of the house doesn't mean they can sell the house at that value (being forced to sell) and that they can find a cheaper alternative that works as well for them. So they can be in for a net loss, all things considered.