Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (31528)	5/19/2005 12:34:49 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 306849

Is there a nuclear reactor nearby?

To: Les H who wrote (31528)	5/19/2005 12:40:11 PM
From: patron_anejo_por_favor	Respond to of 306849

We should buy a couple hundred....that place is bound to be the next real estate bubble....<G?>

To: Les H who wrote (31528)	5/19/2005 2:42:41 PM
From: Les H	Read Replies (3) \| Respond to of 306849

A February 2005 Budget Options report by the Congressional Budget Office, which studies possible ways the federal government can increase revenue, noted that current law allows taxpayers to deduct interest on up to $1 million of debt that they have incurred to buy, build or improve first or second homes. "They may also deduct interest on up to $100,000 of other loans that they have secured with a home (for example, a home-equity loan), regardless of the loan's purpose," according to the budget report. If the federal government reduced the amount of principal eligible for the mortgage interest deduction from $1 million to $500,000, that would limit deductions for 700,000 taxpayers who have large mortgages, according to the report, and would increase federal revenue by $2.7 billion in 2006 alone. By 2010, the report estimates that such a change would be worth $4.3 billion. The report notes that "limiting the deductibility of interest to the amount on loans of $500,000 would still leave the purchasers of more expensive homes with a sizable incentive to become homeowners: at a mortgage rate of 6 percent they could deduct up to $30,000 of interest." Also, the Budget Options report found that limiting the tax benefit of itemized deductions to 15 percent for taxpayers in the tax brackets above 15 percent would lead to additional federal revenue of about $29.3 billion in 2006, or projected revenue of about $64.7 billion in 2010. Under current law, taxpayers can reduce taxable income by the amount of their itemized deductions, which can include state and local income and property taxes, interest payments on home mortgages, and contributions to charity, among some other expenses. Potential consequences of such a step though, are that taxpayers "might liquidate some of their assets to repay mortgage loans, thus reducing both their income (from the assets) and their mortgage payments," the report notes. southcoasttoday.com

To: Les H who wrote (31528)	5/19/2005 7:08:00 PM
From: Oblomov	Respond to of 306849

Those houses are not in a good neighborhood in Indy in terms of crime and other liveability measures. Ironically, northern Lawrence Twp near Geist Reservoir is among the most expensive neighborhoods (although I wouldn't want to live there- as my wife says, why pay $800K to live on a pond in the middle of a cornfield?), and there are several gated communities nearby. There are even cheaper houses near Riverside Golf Course or in Haughville. Depending on the direction of future redevelopment projects and gentrification, there could be some good investments there, much as the Fall Creek area was 5 years ago.