Economist Kathryn Anne Edwards Says U.S. Tax Code Keeps Up to 4 Million Homeowners From Selling

Economist Kathryn Anne Edwards said the U.S. tax code is discouraging millions of homeowners from selling properties they no longer wish to occupy due to potential capital gains tax liabilities.
"There's estimates that it's somewhere between one and four million homeowners are holding onto their house so they don't have to pay taxes on it," Edwards said on an episode titled "Here's What It Will Really Take To Fix America's Economy."
She added that because selling would trigger a steep tax bill, many owners choose to hold onto their homes until they pass away rather than put them on the market.