The bailouts have benefited those closest to the fiat money spigots. Those in banking and in government around the world have seen their wealth rocket up thanks to loose money from the central banks. Times have been very good for the connected, and they’re buying mansions hand over fist in South Florida turning that fiat money into little pieces of coconut palm lined paradise.
Now comes a new bailout for our lucky friends who may not now have to pay market rates for insurance premiums. In Florida and many other places this is serious money, which will soon be the responsibility of the US taxpayer.
I can attest to this. I live outside of Washington DC and houses are moving. This is the land of guaranteed employment and home to the wealthiest households on average in the United States. The main reason? The primary industries here are regulation, wealth extraction, and war. “Growth” industries as of late.
If one makes over $200,000/year and if one realizes at least $250,000 in gains if single or at least $500,000 if married, on the sale of a home, one gets to pay (an additional) 3.8% to the federal government.