Talk:Property ladder
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Tax law and property ladders
[edit]In the USA, "before May 7, 1997, the only way you could avoid paying taxes on your home-sale profit was to use the money to buy another, more-expensive house within two years...
But when the Taxpayer Relief Act of 1997 became law, the home-sale tax burden eased for millions of residential taxpayers. The rollover or once-in-a-lifetime options were replaced with the current per-sale exclusion amounts..."
http://www.bankrate.com/brm/news/real-estate/REguide/tax-breaks1.asp