Quote:
Originally posted by Wayne at Pelican Parts
Nope, not true. The tax payer relief act of 1997 set out new rules that allow tax-free capital gains of up to 500,000 per couple. The only restrictions are that you had to live in your house for two of the past five years.
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You are right. (Like I said, I wasn't sure about that exclusion. . .now I am.) -Thanks.
I will add, that when interest rates go up, the barrier to new buyers goes up . . . moving up competition for rentals.
Unless you think your area is likely to have a net loss of population in the coming years, I wouldn't worry about any crash.
Also, something tells me you will have plenty of other potential finacial opportunities .. . .ones that don't threaten your (more importantly your wifes) stress level, at a very crucial time.