Nah, we give primary homeowners a ton of benefits. Like, if you go to sell your primary home, a married couple gets up to half a million in profits that can go untaxed. If you have a second property that’s not your primary, it’s taxed as capital gains.
There’s a reason primary homes are seen as an intergenerational wealth generating vehicle in the US.
You also don’t get to claim the deductions on a second home unless you are renting it out, so property squatting is disincentivized in tax law.
Nah, we give primary homeowners a ton of benefits. Like, if you go to sell your primary home, a married couple gets up to half a million in profits that can go untaxed. If you have a second property that’s not your primary, it’s taxed as capital gains.
There’s a reason primary homes are seen as an intergenerational wealth generating vehicle in the US.
You also don’t get to claim the deductions on a second home unless you are renting it out, so property squatting is disincentivized in tax law.