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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (43489)10/21/2005 9:21:55 PM
From: Les HRead Replies (3) of 306849
 
They should just change it so that you either get to deduct the mortgage interest or to keep the capital gains from the sale, but not both. 99% of the people would opt for the first. Eliminate the tax deduction for home equity loans, or else make them pay income tax on the equity extracted beyond the original mortgage as a realization of capital gains. Get rid of the double standard that allows residential property investments to write off interest but yet avoid taxes on the gains.
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