President Trump recently said his administration was “thinking about” removing capital gains taxes on home sales to help jump-start the sluggish housing market. The biggest beneficiaries of such a change will likely be longtime homeowners in the country’s more expensive housing markets.

Removing or increasing the capital gains limit — currently $250,000 for single homeowners or $500,000 for married couples — on home sales has been a longtime priority for the real estate industry, which argues that steep tax bills are keeping some homeowners who wish to relocate or downsize stuck in homes that no longer fit their needs.

Read more: Capital gains in real estate: How much you’ll pay when you sell your home

Take the case of a homeowner in San Francisco, where home prices have more than tripled between 2000 and 2025 to a median price of about $1 million today. A homeowner who purchased in 2000 for $300,000 might have $700,000 of gains if they sell now. Depending on their tax filing status, between $200,000 and $450,000 of those gains could be taxable at rates between 15% and 20%. Under any scenario, their tax bill would be in the tens of thousands of dollars.

Those owners are getting more attention in today’s market because for-sale inventory is constrained in many parts of the country, pushing home prices to record highs. It’s unclear exactly how much helping wealthier homeowners would enliven a sedate market. While it could unlock more inventory, some experts say it could worsen the affordability problem.

Any changes to the capital gains limit would require congressional approval. Trump’s comments came earlier this week in response to a question from Brian Glenn, a reporter for the conservative network Real America’s Voice and boyfriend of Rep. Marjorie Taylor Greene. The Georgia Republican recently introduced “The No Tax on Home Sales Act” to eliminate the taxes.

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Around 10% of homeowners nationally have enough equity to surpass the $500,000 limit for couples, according to the National Association of Realtors, which has advocated for reconsidering the caps. In states where home prices have risen rapidly and homes are more expensive, the share can be far higher.

Alex Caswell, founder of Wealth Script Advisors in San Francisco, works primarily with clients in California and New York, many of whom have to consider capital gains taxes in their housing decisions.

“This will primarily affect people in affluent towns and those who have owned their homes for a long time,” Caswell said. “We have experienced a significant price increase since the lows of 2008, so anyone who bought after that period stands to benefit significantly.”