“Lower the mortgage deduction to $200k-one time only. That will lower prices.”
Can you rephrase that and explain what you mean?
“Lower the mortgage deduction to $200k-one time only. That will lower prices.”
I think the person means that mortgage interest deductions should be limited to a maximum of $200,000 over a lifetime.
**“Lower the mortgage deduction to $200k-one time only. That will lower prices.”**
**Can you rephrase that and explain what you mean?**
It’s simple. The mortgage deduction increases the price of homes. It’s intent is to make homes more affordable-not true. Lower it and who wants to take out a million dollar loan with no deduction? Fewer people.
One time only refers to first time home buyers. No going back to the well.