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  • How Big Was the NYC Housing Bubble? [View article]
    People have been bidding real estate up because the gov is always giving more tax breaks to it than any other investment.

    property tax & interest have been deductable for a long time

    1994, a couple could sell a house and pocket a TAX FREE PROFIT OF UP TO $500,000

    Several states cap property tax increases, Cal started in 1978 and that was what started the housing bubble there.

    3 years ago Nevada capped property tax increases at 3%,

    In Reno I'm paying $1200 a year tax, and they can't increase it more than 3%, what more could I ask of an investment?
    With all these tax bennies, I love real estate, and in a year or 2 it will be booming again.
    Especially now that building permits are DOWN 52% in just the last 12 months.
    Feb 06 14:26 pm |Rating: +3 0 |Link to Comment
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