fromFortune
5 days agoYour boomer parents are probably living in a house too big for them. They're frozen in place because of taxes, top economists say | Fortune
Recent analysis from Moody's Analytics, led by Chief Economist Mark Zandi and Deputy Chief Economist Cristian deRitis, points directly to outdated capital gains tax caps as the culprit that is keeping millions of homes off the market and out of reach for families who need them most. According to the report, the problem starts with too many empty-nest seniors "locked in" to homes that no longer fit their needs. But instead of selling and downsizing to a smaller home, the prospect of steep capital gains taxes keeps them in their bigger homes.
Real estate