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Cake day: June 11th, 2023

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  • One fallacy of this argument is that it’s only valid as long as the value of your home increases more quickly than the cost of work put into it. Absent inflation or swelling demand for homes (I.e. population growth I.e. immigration), flipping homes risks gaining you nothing more than a higher property tax base. Maybe it works in Florida, but not everywhere.

    Also: if people insist on treating their primary home as an investment, then we can take away all of these tax advantages the article crows over and we’ll find that suddenly, the deal isn’t so good.

    What a grift: converting a public good (supportive housing policy) into personal gain. This attitude will be another nail in the coffin of the “American dream“ of universal home ownership.