I think that if you only own one property it would make sense to pay the tax on gains at the end of the fiscal year. If you sell $3.5m house and same year buy a smaller $2m house you only pay 20% of the $1.5m you actually gained. It’s idiotic that simply moving somewhere can cost you 20% of your house value, even if you moved to house of equal value and haven’t made any money… If you own more then one property you pay 20% of the sale profit like now.