Why isn't there a tax break for people who lose money on the sale of their homes

[Tre]

I want to know! 

[the Pure Majestic]

A tax break for people that aren't smart enough to set themselves up to hold equity through a housing decline?

Or a tax break for sub-prime losers trying to hide the fact that they aren't intelligent with their finances?


There should be a tax break for people that don't sneak into an over-priced home on zero down with a 5 year arm.   
There should be a tax break for people that put 20% down, in a home with a payment they can afford to make when they can't sell their home for its perceived worth.

There should also be a tax break for people that pay cash to eat up all the foreclosures and below equity sales because Americans are idiots that think it was always going to be okay to buy a home they can't afford.

[headhuntersix]

They had loans as low as 2.5% several years ago. I had a 5 year arm on last house at 4.7 and sold it prior to the bubble bursting, at a major profit. I was also near a military base and while I would not have made as much now as I did the, I think I would have done ok. Arms work if ur going to move alot like I do. My current loan is conventional but I'll be selling within 3 years.

[the Pure Majestic]

They had loans as low as 2.5% several years ago. I had a 5 year arm on last house at 4.7 and sold it prior to the bubble bursting, at a major profit. I was also near a military base and while I would not have made as much now as I did the, I think I would have done ok. Arms work if ur going to move alot like I do. My current loan is conventional but I'll be selling within 3 years.

Good thing the bubble didn't burst before you sold your home. 
Being lucky has nothing to do with being effective.  If you didn't need to sell your home at that time, you'd be the one on here bitching about not being able to sell your home and claiming everyone else's opinion naive because you're in the military. 

I'm privy to private information....stuff you can't handle....and I know that buying a home you can't afford isn't a sound financial decision.

[Tre]

The question is, should buying a home be like playing the stock market? 

I don't believe it should be.  E

Every American should (at least strive to) own a home, but not every American should invest in corporate stock.

[the Pure Majestic]

The question is, should buying a home be like playing the stock market? 

I don't believe it should be.  E

Every American should (at least strive to) own a home, but not every American should invest in corporate stock.

Well, putting 0 down on a 6-7 figure purchase with a low interest rate and graduating payments IS like playing the stock market. 

Even in the current market, putting 20% or more down and having a payment you have little trouble making is a pretty safe bet.  People are still making their living in real estate..... 

[Tre]

People are still making their living in real estate..... 

And too many of those people are BROKERS. 

[the Pure Majestic]

And too many of those people are BROKERS. 

Is that a new term for not living beyond your means while simultaneously making money off the shattered dreams of those trying to look "suburb rich?"