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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: paulmcg0 who wrote (17385)	4/26/1998 11:11:00 PM
From: paulmcg0	Respond to of 94695

Here's a link for my previous posting about local home prices: ocregister.com Unfortunately, I happen to live and work in the south part of Orange County, where they mention that the median home price is $301,500. Paul M.

To: paulmcg0 who wrote (17385)	4/26/1998 11:36:00 PM
From: edward miller	Respond to of 94695

As for being "under water", you can probably guess that my friend from long ago is most assuredly still under, so it's not always good to buy. However, I suspect you are better off buying when your friends are still "under" rather than waiting until they are ahead. I can not agree about the mortgage interest deduction. As an investor I can buy houses and deduct the mortgage interest as a business expense, along with depreciation. I guarantee you that, with the real estate lobby and pressure from the wealthy, this deduction will remain as a business deduction for investment properties, including single family homes. So, if this deduction is eliminated then this country will become a society of renters. Only the "big boys" would own houses, and most of the citizens would rent from them. If you think this will result is lower housing costs you are a fool. We will be back to a society of the poor on one hand and the landed gentry on the other. Ed Miller