Comments on: Access to Homeownership Top of Mind in Washington

By: Lois

Lois — Sat, 24 Feb 2024 01:53:48 +0000

What about a family looking to build wealth through owning a single rental property in addition to their residence? Be careful about what barriers you want to place on “investors.”

By: Cheryl Stewart

Cheryl Stewart — Fri, 16 Feb 2024 14:57:22 +0000

In reply to Sant Prakash Singh. I agree with your comments.Thank you for voicing what many others agree with.

By: Frances Linsman

Frances Linsman — Thu, 15 Feb 2024 17:36:23 +0000

In reply to Jennifer Schrader. I 100 percent agree with your view! Giving a free pass for big money invested isn't the answer.

By: Sant Prakash Singh

Sant Prakash Singh — Thu, 15 Feb 2024 00:11:21 +0000

My personal opinion as triple Licensed individual (Realtor, Mortgage Loan Originator and General contractor is that no one is touching the main problem. How to eliminate Shortage of 5.5million and the unbridled greed of investors including foreigner’s. The solution to this that i feel is the Federal & State Govt should form Development Authorities and embark on massive house building projects as was done after the great war. International Tenders be invited as US building costs are exorbitant,where as the rest of world is building better and faster.These houses are then sold to individuals who have no house of their own on easy terms. Secodly the Residential Property be removed from investment domain. Investors should be restricted only to commercial and Multi storey buildings more than four stories. Housing should be made a fundamental right of every US citizen and put in the constitution.

By: Amy Taylor

Amy Taylor — Wed, 14 Feb 2024 18:41:12 +0000

Capital gains does not apply to investors. The cap gains exclusion happens at $250k for a single person or $500k for a couple, if that has been their primary residence and they have lived in the home at least 2 of the last 5 years. The goal is to raise these limits, lowering the tax liability for individuals to sell their homes.

By: Jennifer Schrader

Jennifer Schrader — Wed, 14 Feb 2024 17:21:42 +0000

RE:The bipartisan More Homes on the Market Act, which incentivizes more long-term owners to sell their homes by increasing the maximum amount of capital gains a homeowner can exclude on the sale of a principal residence and annually adjusting it for inflation.

I am hoping what is stated above will NOT be expanded to investors….

My local Realtors are talking about NAR advocating for the Capital Gains Tax to be removed to incent INVESTORS to sell their smaller single family homes to create more access to affordable housing. IF this is even thought to be a fair solution for our housing shortage, please know that it is NOT. Investors caused this issue competing for inexpensive homes and winning due to cash buys and being “their own best customer’s” as licensed Realtors….and now want a tax break when they sell the smaller homes for another 50K or more than they paid after putting a little lipstick on the house. LOOSE LOOSE for the owner occupied first time buyer. All they are receiving is an over priced house after investors got their cake and get to eat it too.

I am a lender that offers access to over 20K in down payment assistance to income qualified buyers AKA New Teachers, Single Parent families , and entry level college grads with 50K salaries who can’t find housing or even come close to qualifying for the homes available on the market.

We have programs to help…we need the houses. Maybe a win win would allow investors to spread out the capital gains over a few years…but NOT waive their responsibility.

By: Joseph Cassese

Joseph Cassese — Wed, 14 Feb 2024 00:37:31 +0000

You missed homeowners insurance which is currently going through the roof. Do something instead of talking, the young people need to live in a Home. Stop the Politician greed, help the people especially the young people.