Why Did You Buy a House?
Was it because you received the interest and tax deductions on your income tax? Well, the Deficit Reduction Commission is considering modifying the mortgage interest deduction! That is going to cause a “chill” in the housing market since we preach (as Realtors and Lenders) that this is a good investment because of the interest deduction.
The National Association of Realtors is suggesting that over time by paring back this deduction, would reduce the value of homes by 15%. NAR suggests that this level of wealth destruction is “unacceptable” especially in the economic environment that we are in. Needless to say, Realtors and Lenders are giving our say to Congress. I absolutely agree. You can also state what you think!
Was it because you received the interest and tax deductions on your income tax? Well, the Deficit Reduction Commission is considering modifying the mortgage interest deduction! That is going to cause a “chill” in the housing market since we preach (as Realtors and Lenders) that this is a good investment because of the interest deduction.
The National Association of Realtors is suggesting that over time by paring back this deduction, would reduce the value of homes by 15%. NAR suggests that this level of wealth destruction is “unacceptable” especially in the economic environment that we are in. Needless to say, Realtors and Lenders are giving our say to Congress. I absolutely agree. You can also state what you think!
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