Many homeowners are urging real estate professionals to avoid selling due to high capital gains taxes and to ask for changes.
With median home prices exceeding $1 million in many U.S. housing markets, some real estate experts have been urging attention to the Capital Gain Tax Act 28 years ago, citing it as one of the factors contributing to the nationwide housing shortage.
A recent report from Realtor.com shows that California has eight of the 10 most expensive housing markets in the US. San Jose has a median selling price of $2.02 million, followed by Anaheim and San Francisco at the top of the list with $1.45 million and $1.32 million, respectively.
