Americans keep snapping up second homes
http://www.msnbc.msn.com/id/12169982/from/RSS/
* Vacation, investment properties make up 40 percent of 2005 sales
WASHINGTON - Americans bought a record number of second
homes for vacation and investment last year, some 40 percent of
2005 total sales, a trade group said Wednesday.
"On the other hand, investment home sales are likely to decline this
year, in part because of higher interest rates," he added. Still, he
said the long-term outlook for second homes sales was positive
"because more people will be moving into the prime years for
buying a second home."
NAR said 33 percent of 2005 vacation home purchases occurred
in the Midwest, followed by 30 percent in the South, 20 percent in
the West, and 17 percent in the Northeast.
In the category of investment homes, 38 percent were bought in
the South, 24 percent in each of the Midwest and West, and 15
percent in the Northeast.
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Big Gain for Rich Seen in Tax Cuts for Investments
http://www.nytimes.com/2006/04/05/business/05tax.html
The first data to document the effect of President Bush's
tax cuts for investment income show that they have
significantly lowered the tax burden on the richest Americans,
reducing taxes on incomes of more than $10 million by an
average of about $500,000.
Trickle down tax breaks for the rich. Got milk?
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