Zeev's Turnips Patch-No Politics (ZEEV)

[Train Guy]

If they are, it's probably not coming from individual owners other than increased property taxes. Would have to be coming from investors that are flipping.

-- In response to such concerns, I want to make sure my readers understand the tax ramifications of selling real estate assets, some of which have doubled or more over the last 5 years. If you are selling a residence that you have occupied for 2 out of the last 5 years, your real estate tax obligations can be negligible. If you are married, the first $500,000 in gains is tax free and $250,000 if you are single. Additionally, any money you spend on improving that property, in any way, becomes part of your cost basis. And, any capital gains beyond the $500K/$250K allowance are only taxed at a 15% federal tax basis. --

What I found interesting in housing was 450,000 houses a year are having to be replaced. And it should be noted they are being replaced with much more energy efficient ones.

-- The building boom is being attributed to rapid household formation, immigration, wealthy Baby Boomers, and the speedy replacement of aging homes. The supply of older dwellings is dwindling--with the Census Bureau predicting net removals of about 450,000 units per year between now and 2013--due to disasters, the shift from residential to non-residential use, and the teardown trend. #msg-5862918