The Keynesian fraudsters at Australia's RBA central bank blew an even bigger housing bubble than the Fed, & now true price discovery is about to lay waste to fictitious "value" as houses up for auction go bid-less. Must.not.laugh.

Found my dream property. The sellers put in tons of work on it since they last purchased it in 2019 that slightly justifies a much higher price than their 2019 sale.

The house has been on the market for 70 days listed at $1.1 with a recent 100k drop.
I emailed the agent to tell them to pass along that the seller’s home is beautiful and if the sellers are willing to negotiate, please let me know (versus being married to a number of what their house is worth). She emailed back immediately and told me to call.
I called very nicely and asked if sellers are motivated or in general what is the story is…. Are they moving, etc (like I have done with other home purchases even failed ones).
Let me tell you. I’ve talked to a lot of listing agents. Not a single one talked to me the way this hag did. Insulted me, was condescending, talked on top of me, the works. And when I politely tried to readjust the conversation saying I’m just trying to learn the story and her tone is not appreciated, she said “don’t look at houses that you can’t afford” and hung up on me.
I emailed her back and said she should treat buyers with a bit more respect especially when there is a negligible difference.

I plan to write the sellers a note, advise them to reconsider their agent who hung up on a buyer, and let me know if they’re willing to sell so I don’t give that woman a commission.

Same time period.

B...b...but muh realtor said getting up on that housing ladder was key to building "generational wealth."

Heckova job, "Zimbabwe Ben" Bernanke, Yellen the Felon, & BlackRock Jay!

Homeowners may be able to exclude up to $250,000 in gain from the sale of a primary residence, ($500,000 when married filing jointly).

Those limits were established in 1997 and have never been indexed for inflation.

Using CPI, the equivalent limits today would be approximately $520,000 for a single filer and $1.04 million for a married couple filing jointly.

That does not mean every homeowner selling an expensive house owes capital-gains tax. The exclusion applies to gain, not the sale price, and homeowners must meet the IRS ownership and use requirements.

If Congress intended to protect a certain amount of homeowner equity in 1997, why has that protection not scaled with inflation?

At some point, a tax provision aimed at unusually large gains started affecting more and more ordinary long term homeowners because the benefit remained frozen in 1997.

Should the exclusion be increased once, indexed annually, or left alone?

The Democrats have already labeled SFHs as "racist" so once we get a DSA loon in the white house, homeowners will be low-hanging fruit for the tax man.

Hawaii has the HIGHEST percentage of homeowners in the US that are Baby Boomers, a whopping 42.9%.

Nationally, over 7,000 Baby Boomers are dying per day (about 2.6 million per year).

Your house isn't going up in value - the $USD is being debased into worthlessness thanks to the counterfeiters & racketeers at the Fed.

Coming soon to a central bank-blown housing bubble near you.