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

To: Lizzie Tudor who wrote (43489)	10/21/2005 8:22:59 PM
From: bentway	Respond to of 306849

I wouldn't worry about it Lizzie. How many of the voting legislators have even ONE home worth less than 500k? They are not likely to raise taxes on anything that will affect THEIR pocketbooks.

To: Lizzie Tudor who wrote (43489)	10/21/2005 9:21:55 PM
From: Les H	Read Replies (3) \| Respond to 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.