Meet the boomer homeowners who are sitting on their valuable properties because of a tax they hope is on the way out
A capital gains tax on home sales keeps Americans from selling valuable properties.
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- Some older homeowners are discouraged from selling by the capital gains tax.
- That reluctance to sell may be exacerbating a shortage of family-sized homes on the market.
- There's bipartisan support in DC for reforming or eliminating the tax to boost housing inventory.
Joel Friedman, 71, wants nothing more than to sell the house he's called home for more than 30 years.