Tag Archives: Political Deadlock Prompting Sales Deadlines

Wealthy home owners are reportedly contacting their real estate agents with an urgent request: They must sell their home within the next five months, CNBC reports. Why are they suddenly in such a rush to sell? Wealthy home owners—those with million-plus home values—are seeing Jan. 1 as a deadline to sell their home in case Congress allows the Bush tax cuts to expire and for capital-gains taxes to rise (the current 15 percent rate could rise to 20 percent). If these go into effect, wealthy home owners could owe millions […]