Commercial real estate is all about financial shenanigans. For housing, the Feds both directly subsidized construction and indirectly by changing capital gains

Commercial real estate is all about financial shenanigans. For housing, the Feds both directly subsidized construction and indirectly by changing capital gains rules and having a plethora of goodies for developers. My parents bought their first home in NYC for $19,000 in 1977. They sold it in 1993 for $500,000, and that owner sold it in 2024 for $2.8M. Nobody paid capital gains.