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Paul Taylor
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Paul Taylor
2020-08-17 15:28
As I understand the structure of what has been proposed, because the tax is due at the time that you sell your home, I don't think it would make much difference to folks who are considering entering into the space, but it definitely does alter the value proposition for folks who previously would have been considering it as potentially something to pursue, and not only for the security of having a place that's your own where a landlord cannot sell the property out from under you or move a family in. There's an awful lot of security in housing that is available to folks who own their own home, but if the investment advantage, the tax haven, for a primary residence is removed, I think it would certainly affect people's decision to potentially enter the market.
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