They'd buy something that is more appropriate to their stage in life. But especially in California and other high tax states, they don't do that because their tax bill would be huge. So The effect of this [policy] would be to lower the cost of housing for people that are buying. What it means is a young married couple that wants to buy that first house. If there were more houses on the market, it would drive the prices down and they could afford it more. (16:45–16:50)
CLAIM
Asserts that indexing capital gains to inflation would lower housing costs.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
