Homeowners Could Lose Their Mortgage Deduction

By
Real Estate Broker/Owner with Lazarus Realty

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.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
California
Tags:
tax
investment
property
home
deduction
mortgage

Spam prevention
Show All Comments
Rainmaker
369,831
Mike Russell
Mike Russell & Associates - Overland Park, KS
Overland Park Kansas Real Estate

This would cause serious downward pressure on the market, it would make me seriously rethink my current living situation.

Jun 09, 2010 05:04 AM #1
Rainer
90,227
Wade Kawahara
Dominion Real Estate Partners, LLC - Phoenix, AZ

That is another consequence of all the spending to help the economy.  The money has to come from somewhere.  I agree that it would be another major hurdle for the real estate market to overcome.

Jun 09, 2010 05:22 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
79,032

Randy "Lazarus" McAtee

Owner/Broker, Lazarus Realty, Fresno California
Ask me a question
*
*
*
*

Additional Information