Homeowners Could Lose Their Mortgage Deduction
Just came across this article.
Ax May Fall on Tax Break For Mortgages
SNIP:
"The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic experts seeking ways to close huge deficits."
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Should homeowners and investors lose the tax deduction they now enjoy they would have to recalculate the value of ownership. I dont think it would bode well for property prices and it would certainly reduce the amount of disposable household income putting downward pressure on consumer spending during already frugal times.
Ax May Fall on Tax Break For Mortgages
SNIP:
"The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic experts seeking ways to close huge deficits."
_________
Should homeowners and investors lose the tax deduction they now enjoy they would have to recalculate the value of ownership. I dont think it would bode well for property prices and it would certainly reduce the amount of disposable household income putting downward pressure on consumer spending during already frugal times.
posted by Randy "Lazarus"McAtee at
8:48 AM
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