Missouri is the first state to get rid of capital gains tax

[Johnathan Trimble]

I am not sure if anybody saw but House Bill 594 just eliminated Missouri's capital gains tax, which is 6% here. That is a lot of savings for investors looking to start selling real estate and I think this will increase the supply of real estate in our market. Currently our inventory is quite low (only 167 active multifamily listings on our MLS), and this should bring more opportunity as investors sell while the market is still strong and they can pocket their additional 6%. This also does not just apply to real estate but also stocks/bonds, mutual funds/ETF's, crypto, business, or other investments.

Do you think other states will follow? Any thoughts on if we see a change in the federal rate?