Thanks to a 1997 change in the federal tax code, more homeowners are retaining profits from sales, with the opportunity to buy two homes as a result.
"If you are thinking about buying a second home this spring -- or you bought one in the past couple of years -- you are part of a major transformation in the real estate market.
The number of second homes purchased annually in the United States doubled from 2000 to 2004, according to new research. The boom is being driven in part by demographics -- mainly a flood of equity-laden baby boomers -- and in part by a largely unexpected effect of tax-law changes in the late 1990s."
"When Congress amended the federal tax code in 1997 to permit up to $500,000 (for married couples) or $250,000 (for singles) of gain on the sale of a primary home to be spared from taxation, 'homeowners did not have to buy expensive [replacement] homes anymore...'"
FULL STORY: Tax Law Gave Rise To Second-Home Boom
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
The City of Broken Sidewalks
Can Los Angeles fix 4,000 miles of broken sidewalks before the city hosts the 2028 Olympic Games?
Why Some Affordable Housing Managers Are Running Education Programs
Many housing organizations are finding that educational programs are a logical — and valuable — addition to their offerings.
Anchorage Bus Depot to Reopen
After a four-year closure, a downtown Anchorage transit center will once again provide indoor waiting areas and services for bus travelers.
Mapping a Greener Future: Cal Poly Tackles Urban Canopy Challenges
Cal Poly, in partnership with Cal Fire, is leading the development of California’s new Strategic Plan for Urban Forestry, combining advanced data tools and interdisciplinary collaboration to expand tree canopy cover.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Village of Glen Ellyn
City of Laramie
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners