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Forbes Quote on Reason to "Put Your Kids In a House"
2011 Jun 17, 2:31pm 3,837 views 15 comments
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If you have a capital loss from stocks and bonds you can deduct from taxes $3,000 a year.
You overpay during the bubble years, values drops afterwards, and you sell, there is no deduction for loss on sale of residence.
Norbecker
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2011 Jun 17, 8:32pm
I'll bet this was written by the NAR. More propaganda for the used house sellers to try to earn commissions by convincing people that once again, "Now is a great time to buy a house".
klarek
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2011 Jun 17, 11:43pm
Forbes has become a complete joke. Using kids as a heart-string lever, that's just plain wrong.
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"There's a powerful tax advantage to owning rather than renting, and it reaches well beyond the mortgage-interest deduction that is usually thought of as the prime homeowner goodie. The benefit is this: If you put capital into stocks and bonds and use the earnings to pay rent, you'll owe tax on the earnings. If you put the same capital into a home you will get a dividend in the form of living space - and this dividend is tax free." (then goes to discuss capital gains exemption for real estate and not stocks)
What!?!?!?
The Forbes articles does not mention property taxes. Property taxes are levied on the principal and return every year and they are a very destructive tax from an investment return perspective.
And since when is a structure to live in a "dividend".
#housing