tax deduction: One less reason for not buying a home
- 07/30/11 06:26 AM
A month ago I wrote about why you should not buy a home. Of the ten reasons for not buying at the time, there has been a little movement in one of them. The first reason was that interest rates were too low, and that there would be a better tax deduction if rates would go higher. If you're waiting for that big opportunity to score in the tax deduction game, it may be on its way. There is a good chance that the result of the Washington circus will be increased interest rates. Even with a last minute agreement by the … (4 comments)
tax deduction: Let’s stop rewarding bad behavior
- 02/05/10 05:01 AM
The principal residence mortgage interest tax deduction in its present form rewards homeowners with low equity in their homes. Homeowners with little or no debt are paying a disproportionate share of taxes because they are acting responsibly. Tax policy should be adjusted to give all homeowners a credit, not just those who have incurred debt. We are somehow deluding ourselves into thinking that tax policy that encourages debt somehow encourages home ownership. Actually, it just helps banks. My proposal is that a tax credit of 1% of the purchase price of the home be given to all homeowners, annually, for as … (4 comments)
A month ago I wrote about why you should not buy a home. Of the ten reasons for not buying at the time, there has been a little movement in one of them. The first reason was that interest rates were too low, and that there would be a better tax deduction if rates would go higher. If you're waiting for that big opportunity to score in the tax deduction game, it may be on its way. 
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