Oh yeah, just what the crippled housing market needs now. The final nail in the coffin. Oh, yes, this is just great advice. And I guess you go around making loud noises behind heart attack victims and kicking the canes away from cripples.
Nice. Brilliant.
Don’t get me wrong, I don’t think there should ever have been a mortgage tax deduction. You want a house, get it. Don’t expect me to subsidize your purchase.
Of course, I probably would not have bought a house 3 years ago if there was not a mortgage tax deduction, because I just felt renting was a more cost effective option without the deduction. The deduction made a difference in my decision, so if you end it now, you better grandfather me in or be prepared to take incoming hot lead from a furious homeowner who was duped. You can’t change the rules in midstream.
Yes, I am all for ending the mortgage tax deduction, but it would be economic suicide to do so in an economic depression that is housing based, with the housing market still a mess amid 4% mortgage interest rates.
AFTER the US economy recovers and AFTER home sales and prices rebound, then feel free to eliminate the mortgage deduction for NEW BUYERS.
The fact is, you are dreaming if you think the home mortgage deduction would ever disappear. The housing industry lobby will never allow this. Never. You are dreaming.
“Oh yeah, just what the crippled housing market needs now. The final nail in the coffin. Oh, yes, this is just great advice. And I guess you go around making loud noises behind heart attack victims and kicking the canes away from cripples.
Nice. Brilliant.
Don’t get me wrong, I don’t think there should ever have been a mortgage tax deduction. You want a house, get it. Don’t expect me to subsidize your purchase.
Of course, I probably would not have bought a house 3 years ago if there was not a mortgage tax deduction, because I just felt renting was a more cost effective option without the deduction. The deduction made a difference in my decision, so if you end it now, you better grandfather me in or be prepared to take incoming hot lead from a furious homeowner who was duped. You can’t change the rules in midstream.
Yes, I am all for ending the mortgage tax deduction, but it would be economic suicide to do so in an economic depression that is housing based, with the housing market still a mess amid 4% mortgage interest rates.
AFTER the US economy recovers and AFTER home sales and prices rebound, then feel free to eliminate the mortgage deduction for NEW BUYERS.
The fact is, you are dreaming if you think the home mortgage deduction would ever disappear. The housing industry lobby will never allow this. Never. You are dreaming.”
You might be interested to know that I build houses for a living and am a Realtor as well. Some form of a gradual transition is probably OK, but IMO a part of the crash of 2008 is due to the government’s subsidy for people to borrow as much as they could (with Fannie Mae being the biggest element of the problem).
Maybe I am dreaming, but WordPress is free after all.