[notional]

I don't see 1031 exchange mentioned much in the discussions of housing problems. People who own real estate absolutely lose their shit when this is brought up as something that should go away which is by itself a pretty good indicator. There's so much tax collection being 'lost' on this it's something that should be repealed but likely won't.

I have also noticed that although people are recognizing their is a massive growing homeless population in all cities, particularly the west coast, it gets pushed away as just a bunch of drug users on fent, instead of realizing the bulk of these people became homeless in the last 3 years as housing and rentals have blown up in costs without wages matching.

There's so little resources for the people at the bottom suffering homelessness, the only thing keeping a lot of people housed right now is the soon-expiring eviction moratoriums.

[yonran]

I don’t have a problem with the tools in the tax code to defer realization for capital gains taxes during a lifetime e.g. 1031 exchange, traditional 401(k) or IRA, in-kind redemption for ETFs, etc., so long as the taxes eventually do get paid on the gains. The real issue in my opinion is the loopholes in the tax code to avoid capital gains taxes completely e.g. step-up basis on death + $11.7 million estate and gift tax exclusion per person, $500k capital gains tax exclusion for sale of a home for a married couple (Section 121), Grantor Retained Annuity Trusts, Roth IRAs.

[harambae]

>soon-expiring eviction moratoriums

Yeah they're about to expire, just like they've been about to expire for a year. I'll believe it when I see it.

"The Biden administration announced on June 24 an extension of the federal eviction moratorium issued by the Centers for Disease Control and Prevention (CDC) through July 31, 2021, and that it will implement a whole-of-government approach to prevent an historic wave of evictions this summer" [0]

[0] https://nlihc.org/coronavirus-and-housing-homelessness/natio...

[jdhn]

It blows my mind that the CDC can issue rent eviction moratoriums, and that this is completely legal.