With median home prices exceeding $1 million in many U.S. housing markets, some real estate professionals are drawing attention to a 28-year-old capital gains tax law, citing it as one factor contributing to the nationwide housing shortage.
A recent report from Realtor.com shows that California is home to 8 of the 10 most expensive housing markets in the United States. San Jose tops the list with a median sales price of $2.02 million, followed by Anaheim and San Francisco at $1.45 million and $1.32 million, respectively.
