Quote:
Originally Posted by WarrenC12
I think we need some form of capital gains tax on principle residences. I don't know how this will be politically possible, but even with a lifetime exemption ($1M+), it would make a big difference IMO. Housing should be less of an investment/retirement plan.
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The problem with that is that people will then jack up their price, which means housing prices only get higher.
What really needs to happen is the property tax reflect the sale price of the property. This would mean that buying a million dollar home would actually be a bad thing for you and your neighbourhood.