Quote:
Originally Posted by whatnext
Meh, the US principal residence exemption is quite low: $250k for singles, $500k for families and their labour mobility is greater than ours.
|
Median listing price in the US a year ago was $226k. 20 states had median prices at or below $250k. And all but 3 states had median listing prices at or above $500k.
https://www.businessinsider.com/cost...-ranked-2018-8
A $250k single person and $500k family exemption would cover the vast majority of homeowners in the US.
For comparison, average home price in Canada is over half a million.
https://www.globalpropertyguide.com/...20respectively.
So our equivalent limits would have to be $500k for singles and $1M for families.