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


To: MulhollandDrive who wrote (43482)10/21/2005 7:49:29 PM
From: patron_anejo_por_favorRespond to of 306849
 
Maybe if the hard working Cali engineers works REALLY hard, he can save his pennies and escape to Tucumcari or Danville some day!<G>



To: MulhollandDrive who wrote (43482)10/21/2005 8:01:06 PM
From: Lizzie TudorRead Replies (2) | Respond to of 306849
 
did you miss the discussion?

The issue is that the fed wants to cap mortgage interest deductions on the dollar. So say the cap is 500K. The problem is you can live like a king like that in the midwest. In CA you are buying a dump. You cannot impose price based property tax or mortgage deductions and expect it to be fair. The coasts end up subsidizing the midwest again, and the new buyers pay the most.

If they want to cap mortgages to say, one single family home or one "modest" home, the better metric is square footage. I actually think the right thing to do is just keep the deduction to ONE home per family. That would solve most of the problem imho.

Pardon me if I'm missing the sarcasm in this dialogue.

edit- ok I read your post again. I think you think we are talking about REAL ESTATE taxes, local taxes. We are not. The federal tax code is being revisited, these are federal deductions and 2 things on the table are capping the mortgage interest deduction and removing the state income tax deduction. Now personally I think both of these are DOA. But anyway thats whats on the table.



To: MulhollandDrive who wrote (43482)10/28/2005 2:18:40 AM
From: Amy JRespond to of 306849
 
MulhollandDrive, couple of points here:

RE: "lunatic"

Please try to be polite.

People with strong minds have the ability to be polite.

RE: "obviously she cannot...she says"

Please try to speak to me directly

If you don't understand something, please ask politely.

RE: "how in the world the poor, hapless, downtrodden 'CA engineer' but hey....no longer compensate sufficiently those poor, hard working engineers sufficiently so that they can afford"

How is your son doing?

From your other post, "he can't afford a house...."

Message 13164433

RE: "methinks her post sounds like a bad case of...price envy"

Thought you said "foreign money" was the problem?
Message 18331052

Onto other topics (you and I both like bicycling), just as I was about to consider doing some bicycling, two hikers ahead of me on a hike said 3 bicyclists were killed in one area on one weekend. Am probably going to stick to hiking and my other sports.

Regards,
Amy J