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Northstar1989 t1_iy4ox3a wrote

If there's a difference in prices, due to moving to a cheaper area?


Hodgkisl t1_iy4pr0u wrote

Please see my edit, you no longer must buy a new home for primary residence sale. I believe you used to have to buy another.

Also fun is with investment property you can 1031 exchange and avoid any amount of capital gains indefinitely.


Northstar1989 t1_iy6z92p wrote

That's.... problematic.

Clearly we need to fix those tax laws so millionaires with 5 investment properties can't avoid taxes forever


Hodgkisl t1_iy7q18z wrote

The 1031 exchange has helped many become rich, its a huge distortion in the real estate market.