Many American homeowners are underwater in their current homes and need help and support from the Federal Government through tax relief to be able to sell those homes without having to do a "short sale".
We propose that Americans who sold a home between 2008 and 2012 be able to write off the Capital Losses (i.e. the purchase price less the sale price) up to $50,000 from their taxable income.
This will allow more America's to sell their homes to increase mobility and put more cash back into their pockets to help stimulate the economy.