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

To: patron_anejo_por_favor who wrote (242118)	3/24/2010 2:52:13 PM
From: Jim McMannis	Respond to of 306849

Zeus is from Massachusetts. Maybe he will know. Or maybe his "residence" is in FL. That's where they are heading.

To: patron_anejo_por_favor who wrote (242118)	3/24/2010 3:13:02 PM
From: Jim McMannis	Respond to of 306849

I had to laugh... The Case for Ending the Mortgage Deduction nytimes.com By AGNES T. CRANE Mortgages should be made less attractive. That’s one lesson of the recent housing bubble and bust. As long as borrowing seems like the easy road to riches, people will do too much of it. But right now in the United States, the tax code encourages many people to take out big mortgages. That’s why it’s a good idea to put the elimination of the tax deductibility of mortgage interest on the political agenda. American homeowners can for tax purposes deduct interest on mortgages of up to $1 million. It’s a politically popular arrangement, and the lure of paying a bit less to the government has been an incentive to stretch housing budgets up to, or past, the limit. Even extra cash borrowed under home equity loans can share in the tax largess, whether or not the funds go to home improvement. More...