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[OM] Re: Welford Northamptonshire #6

Subject: [OM] Re: Welford Northamptonshire #6
From: Winsor Crosby <wincros@xxxxxxxxxxx>
Date: Fri, 27 Aug 2004 10:36:29 -0700
It is the same here, high appreciation. Most young couples cannot 
afford to buy a house unless they both have high income jobs or they 
have well off parents who will loan them the down payment. Property 
appreciates here normally, but sometimes there is a real estate value 
bubble that bursts. If you sell and have a loss you I believe you can 
deduct that loss against your income at tax time. That happened a few 
years ago and it took several years for values to return. That may be 
when you read about our real estate market. Most people are now exempt 
from taxes on capital appreciation when they sell their homes.  I 
suspect the current bubble will burst after our election whichever 
party wins.



Winsor
Long Beach, California
USA
On Aug 27, 2004, at 10:00 AM, Chris Barker wrote:

> And young couples are having a great deal of trouble finding houses
> that they can afford.  My (admittedly limited) experience of the house
> market in the US is that your houses depreciate in value, and you can
> set off the loss against tax.  In this country the market is
> appreciating fast.


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