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Capital gains taxes on housing

By Clemens Fuest, Bernd Huber and Søren Bo Nielsen

Abstract

Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains (nominal or real) on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses and those trying to get into the market for owner-occupied housing. Our paper shows that at least in simple settings, a tax on real capital gains on housing will only lead to even bigger price swings and will not be able to redistribute between people appearing on either side of the housing market

Topics: capital gains tax, housing market, price ‡uctuations
Year: 2003
OAI identifier: oai:CiteSeerX.psu:10.1.1.196.8101
Provided by: CiteSeerX
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