Glenn Ashmore wrote in message news:ZX2%b.2713$Ri6.222@lakeread04...
Ed Huntress wrote:
snip
Ed Huntress


Agreed that California is a unique situation. The thing is, as
Californians sell off and abandon the state they put a lot of pressure
on Oregon and Idaho home prices. They have a lot of gain that must be
reinvested in homes within something like 2 years and that sends home
prices in Boise through the roof. When California pops Boise will get
hurt but nowhere near as badly.


Uh Glenn,
Since May 7, 1997 you can have a gain of 500,000 married filing joint,
or 250,000 single and not owe a penny in income tax on the gain. That
is federal some states may tax your gain. You just have to live in the
home for 2 of the last 5 years and you can do that as often as you
like as long as you meet the 2 out of 5 year rule.

Paul the Taxman in NE Ohio