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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (53532)10/20/2002 8:23:15 PM
From: kumar  Respond to of 281500
 
<I'd be circumspect about buying a house with a mortgage in the USA.>

Mq,
Mortgage interest is tax-deductible in the US, unlike NZ!
therein lies an advantage to strech your mortgage as long as u can.

Flip-side : we have capital gains tax unlike NZ.

cheers, kumar



To: Maurice Winn who wrote (53532)10/20/2002 10:55:00 PM
From: Condor  Respond to of 281500
 
I'd be circumspect about buying a house with a mortgage in the USA. Meaning I wouldn't do it. I wouldn't have cash in the bank while paying a mortgage.

It would protect your cash in case a US real estate bubble is forthcoming. A $ 400,000 house suddenly worth $ 175,000 ain't no picnic. I'm not forcasting a real estate implosion. I have no idea if it would happen, then again, it surprised the Japanese 15 years ago.


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