Can you imagine the amount of tax fraud and unreported income these past few housing bubble years?
* Realtors taking under-the-table bribes
* Realtors taking under-the-table bribes
* Flippers taking cash-back-at-close
* Appraisers getting paid cash to make the numbers work
* Investors claiming they lived in a home for 2 years for the tax-free gain when they never spent a day
* Unreported short sales (that should be reported as income)
And so many more housing tax fraud scams.
Meanwhile, thank you Bush Administration, IRS and Justice Department - nobody was minding the store these past few years, and America got screwed.
