YouTube commentary (Richard Canfield) about recent tax changes and their effects on older homeowners—particularly baby boomers—arguing that forced or unavoidable sales (due to illness or death) will trigger capital gains taxes on long-held real estate and reduce intergenerational legacy transfers in an inflated monetary environment.
Chapters
One thing I'm looking forward to discussing here is what are some of the ramifications and the impact of this? And, you know, again, who are we targeting? So a capital gain is going to happen when you sell, but sometimes you don't control the reasons why you have to sell. You could get sick, someone might die, and then it's considered sold on that day. So the people that are going to be really impacted by this is boomers. I mean, many people, but boomers, they're at an age where they're starting to disappear. And as that happens, there's a natural transition. And real estate that is owned and maybe has been owned for a really long time is going to be sold, and now it's going to be sold in an environment outside of their control. So this is an attack on a lot of people, but I really think it's fundamentally, it's an attack on boomers. They are going to get hammered by this. And the amount of legacy that's going to pass on to the next generation that needs it in an overinflated monetary system won't receive as much.