[QUOTE=Pairadocs;1894750]
Quote:
Originally Posted by Kenswing
There's really no incentive for them to price the house any higher. A house under a year old has to turn over any profits to the developer.[/QUOTE
What ????? This is still America isn't it ? I know things are changing all over the country so fast now it makes your head spin, but give a developer money you gained by selling YOUR HOME that is in YOUR name and pay your taxes on...... what ???
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The rule has been in effect for a long time. There have been times in the country when people were buying new houses and selling them for a profit before they were even built. The developer's "no profit within a year" rule prevents that type of speculation, which is not good for a stable market. I think it is a reasonable rule.