Thanks to a 1997 change in the federal tax code, more homeowners are retaining profits from sales, with the opportunity to buy two homes as a result.
"If you are thinking about buying a second home this spring -- or you bought one in the past couple of years -- you are part of a major transformation in the real estate market.
The number of second homes purchased annually in the United States doubled from 2000 to 2004, according to new research. The boom is being driven in part by demographics -- mainly a flood of equity-laden baby boomers -- and in part by a largely unexpected effect of tax-law changes in the late 1990s."
"When Congress amended the federal tax code in 1997 to permit up to $500,000 (for married couples) or $250,000 (for singles) of gain on the sale of a primary home to be spared from taxation, 'homeowners did not have to buy expensive [replacement] homes anymore...'"
FULL STORY: Tax Law Gave Rise To Second-Home Boom

San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.

Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.

Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.

The Unseen Aftermath: Wildfires’ Lasting Health and Emotional Burden
Wildfires in Los Angeles not only pose immediate physical health risks but also lead to long-term respiratory problems and mental health struggles, underscoring the need for a coordinated public health response to mitigate their lasting effects.

Public Parks as Climate Resilience Tools
Designed with green infrastructure, parks can mitigate flooding, reduce urban heat, and enhance climate resilience, offering cost-effective solutions to environmental challenges while benefiting communities.

What the Proposed Federal Budget Means for Transit, Rail
The proposed FY 2025 budget keeps spending for public transit and passenger rail essentially the same as in 2024.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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Harvard GSD Executive Education
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