Quote:
Originally Posted by Russ_Boston
Lou, IRS may be another issue but, even if the ruling is against TV, the $ magnitude of that when split among all the residents doesn't worry me much either.
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Russ: I do not live in TV but have looked very regularly for that last 4 years. I just retired this year. I waited because I was not retired and because of the IRS issue and because I believe the economy is still heading down and prices for the types of homes I have been following carefully have dropped gradually but steadily. I have many examples. Now that I am retired I am more motivated to buy but I am still a price shopper. I don't mind renting in the meantime.
What is the magnitude of the IRS issue? The issue seems incredibly slow in resolving. I wonder why. I think it is very hard to determine the magnitude/cost because if the IRS requires the bonds to be purchased and new taxable bonds sold I am afraid it could be very costly to buy back higher interest bonds in this market as the holders would want a premium I think, and that would be in addition to possibly interest and penalty. You have given very good information on this site in the past and I am interested in your opinion.
Thanks