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...'"
Read the full story: Tax Law Gave Rise To Second-Home Boom
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Colorado’s Largest Data Center Could Rise Next to Homes — Without a Public Hearing
The proposed campus would consume 11 times the power of Denver International Airport; as it has across the country, opposition mounts.
'This is going to be painful:’ Virginia stares down $1.7 billion funding gap for highway maintenance
The state may address the deficit by shifting $290 million from its construction budget to maintenance projects.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
KFH Group Inc.
Greater Baltimore Committee
Eagle County Government
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello