General Discussion

and u r completely wrong about who this benefits. when u talk about averages, it’s not actually helpful.
u cant buy anything in good condition in a big city for $250k, and that’s where the decent jobs r.
and it’s 1 time. most ppl in spendy houses didnt start there. they traded up a couple of times.

when we bought our home, my then hubs was not making a lot of money. 1 reason it has gained so much value is that we bought in a very diverse hood when that was not a cool thing to do.
that, and making many improvements over the yrs makes it worth twice what it wd b untouched. a lot of that was sweat. for about half the big improvements, we had to refi. we’ve put more into it than we paid for it. our family grew and the house had to stretch. not an uncommon story. no speculation, no maneuvering.

very few of the ppl who live on my block ever made big money. there’s a couple college profs, a former construction manager, but that’s about as high as it goes. most bought long ago, their homes r paid off, and they r counting on selling the big house they raised the kids in for their retirements.

and i dont think the big house munchers will end up w the homes around here. they grab up the bargains. the ugly houses, the foreclosures. if they’re looking for mcmansions, those arent here, either. no bnb’s even. just a working class hood, w good solid but mostly pretty humble homes.
but the going rate these days is getting into the $550-600k range. for a widow who’s lived her for 20-30 yrs, that will b a hit.

and again, b4 clinton, once in your life, you cd sell your primary residence and pay NO capital gain.
it was good policy. it benefited retirees, seniors who worked hard and played by the rules, and widows/divorcées. ppl who were the backbone of middle class neighborhoods.