Quote:
Originally Posted by moorhosj
You are likely correct for luxury homes ($1 million +), but this also isn’t a regional tax it’s a Chicago tax. I am seeing lines down the street for single-family homes in the $500-$750k range.
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And I think homes like this are the best ones to get in this region.
I just see no reason the buy a $1 MM + home in this region, even if affordability is not an option. That view grows stronger as the Socialists now push for a higher real estate transfer tax.
I own $ 1 MM rental property but I’m not too concerned—I don’t plan to sell.