Uh, maybe, maybe not. The builders association just came out against it. And even if it still is in, to get to more than $24,000 in interest deduction (married couple new standard deduction) for it to even matter, you'd need to have more than $600,000 in mortgage debt assuming 4% interest to hit the threshold vs standard. How many people have that kind of mortgage debt with a median house worth $200k?
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How many people in California do you suspect have less than $600K mortgage debt?
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But I bet YOU have one and no matter what it is, you'll STILL get to deduct it...no matter WHAT SOME UNION CAME OUT TO SAY!
My property taxes, alone, are much more, sadly, than the new, supposed doubling of the deductible; ergo, that doubling won't help me at all and then there's still my state taxes.