Over at the New York Times, there is a fantastic article from Lisa Prevost about a new tax reform initiative that has been floated to incentivize purchasing real estate. We all see real estate as a form of investment, but what if the purchase of real was was viewed similarly to corporate gains tax, e.g. as a form of tax-free savings.
After all the article asks “Tax-free savings accounts help Americans stow away money for health care and college tuition. Why not a tax-exempt account for yet another major expense: the down payment on a mortgage?”
The plan makes a lot of sense, but you’ll have to read the rest of the article to get the details, certainly well worth the read! The real estate boom has done so much to help get things moving again, why not keep motivating buyers!