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by hdespiritu
1210 days ago
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If it's your primary residence, the homestead tax credit can offset that increase substantially https://smartasset.com/taxes/what-is-a-homestead-tax-exempti... OP's original point still stands. Real estate in America is designed to have many economic advantages for wealth accumulation and preservation. You might even go as far as saying the economic advantages of real estate are a byproduct of regulatory capture |
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This seems correct to me. I don't think it's been specifically designed to be a store of wealth.