Where Does Your Equity Reside?

A person's money has to reside somewhere. And what we're really talking about here is primarily the real estate investor community, where they're dealing with equity. Hey, look, I've got equity, but it's not really realized until a transaction happens, I either borrow against it, I sell the property. If I sell the property and trigger a capital gain, how is that capital gain going to be treated? Exactly the way that you just kind of walked us through. If I'm thinking about accumulating wealth, and I understand that my wealth, my money has to reside somewhere, then I think what we want to introduce is that your equity should reside somewhere, too. Would you agree with that? And you might not want to have it stored in a place where the rules of how it's taxed can change very easily.