Changes to capital gains tax laws are behind housing price appreciation
Hello fellow economists.
Here’s a question for you. How much of an effect, if any, have the changes to the tax laws in 1997 have on the increase in housing prices over the past eight years?
Prior to 1997: gain up to $500,000 per couple exempt from capital gains taxes, if you are over 55 years of age
After 1997: gain up to $500,000 per couple exempt from capital gains taxes, no matter what your age.