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

To: James Hutton who wrote (142045)8/20/2008 1:42:00 PM
From: MulhollandDriveRead Replies (1) | Respond to of 306849
 
. More importantly, the AMT eliminates itemized deductions, so the more you make, the fewer deductions you get

indeed...

the mortgage deduction elimination (for 'high' income earners) has been floated a way to 'pay' for the elimination of the AMT (as so stated in the article i linked)



To: James Hutton who wrote (142045)8/20/2008 3:04:03 PM
From: Jim McMannisRespond to of 306849
 
Every tax break for RE fueled the bubble to varying extents. I think the cap gain thing had more to do with the bubble than the Mortgage interest rate deduction.

If they want to make housing affordable and don't bail it out and don't throw tax breaks at it. Let the prices drop to about 3x incomes with 20% down.


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