Pay my at t landline bill3/8/2024 ![]() ![]() “For now we’re staying put,” Dragos said. Related article Home sales last year dropped to the lowest level in 28 years Photographer: David Paul Morris/Bloomberg via Getty Images David Paul Morris/Bloomberg/Getty Images Sales of previously owned US homes unexpectedly rose in November, led by a pickup in the South and representing a respite in a two-year downturn caused by higher borrowing costs and a lack of inventory. Homes in Pinole, California, US, on Tuesday, Dec. And with current prices and mortgage rates so high, there is often a negligible cost difference between their current home and a smaller one. Plus, smaller homes or apartments in the neighborhoods they’ve come to love are rare. This is a kind of tax on the profit you make when selling an investment or an asset, like a home, that has increased in value. Many Boomers whose homes have surged in value now face massive capital gains tax bills when they sell. “We are here in a huge house with no family nearby, trying to make a wise decision, both financially and for our well-being,” said Dragos, a retired teacher.īut selling and downsizing isn’t easy, appealing or even financially advantageous for many homeowners like the Dragos family. After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California.īoth over 70, the Dragos are empty nesters, and like many of their generation, they’re trying to figure out how to downsize from their 3,000-square-foot, five-bedroom home.
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