Re:Investors bought a quarter of US homes sold last year
by BeetleB on Tuesday August 23, 2022 @05:36PM
(#32571887)
> Little did I know when I went to claim the loss on my taxes: I could not claim the loss at all. Since it was an owner occupied house and not a house owned by a corporation, it did not count as a loss I could deduct from my income nor from my capital gains.
It cuts both ways. Had you had a gain, you would not have had to pay taxes on the gains. If you had it as an investment, you would.
> Houses are meant to trap and enslave common people. It decreases their mobility and roots them in areas they otherwise would want to leave. When you gain money from a house, there are all kinds of benefits. When you lose money as an owner, there are no protections for you.
Hyperbole. For the majority of folks, home ownership outweighs the costs. Often significantly.
It cuts both ways. Had you had a gain, you would not have had to pay taxes on the gains. If you had it as an investment, you would.
> Houses are meant to trap and enslave common people. It decreases their mobility and roots them in areas they otherwise would want to leave. When you gain money from a house, there are all kinds of benefits. When you lose money as an owner, there are no protections for you.
Hyperbole. For the majority of folks, home ownership outweighs the costs. Often significantly.