There has been many rumors and speculation that there would be a “tax” for buying a home or selling your home with the new Health Care Reforum. As a relief it is to individuals who are in those two situations, the Real Estate Market will still be hit. It will be hit in the “Renters” market. As, relieving as this may be for some, more than 38% of the US population has now become “Renters”. For the idea or notation to be that the “Landlord” will be hit with the 3.8%, is just a dream in a bucket. This 3.8% will be passed on to the people occupying the “home” from the “Landlord”.
Where Rents are at an all time hight with the added pressure that “rents” are do to go up another 5% next year, this is just another hit to the “Real Estate Market”.
So, now more than ever is a time to educate yourself regarding the 3.8% Tax no matter what situation you are in….