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I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
The Dems see the real-estate deduction as a subsidy for rich people that have more than one house. They don't see why the federal gov't should be paying people to buy houses. Nice logic. :rolleyes:
was in the bank yesterday redoing my eq. line. wells fargo thinks at least 1/2 to 1 percent by end of year. also greenspan is going to retire so who knows after that.
pat(slotracer) :mix:
The Dems see the real-estate deduction as a subsidy for rich people that have more than one house. They don't see why the federal gov't should be paying people to buy houses. Nice logic. :rolleyes:
Every middle class millionaire I know has made atleast half if not three quaters of their cash from investment real estate. Some people have the wrong take on it. Rental property is not to make monthly money on but has have more value in the deduction. Take that away and watch the mass exodus of rental property. I'd say if this actually happened, prepare for socialism next. There will very few paths to wealth in america at that point. In my humble opinion of course.
prepare for socialism next.
I have been living in a socialist state for the past 28 years.
What's a Mortgage? :rollside:
I bet they are going to do something that will effect real estate. Is is a fairly untapped tax resourse right now and it could use some cooling off (as they see it).
I am betting a reverse in part of the tax free cap gains or the deduction on mortgages. We have a big huge debt folks and this is a big cookie jar for the fed. :mad:
I'm soo glad I locked everything in when I did. I just hope I sell my house for what I want in 6 months.
I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
It is a scary thought Cdog...but remember they will have a pretty difficult time passing that through the majority Republican senate. Should be an interesting argument. I can't see this passing and the mainline senators responsible for the motion will be VERY unpopular. Democrats and Republicans alike benefit from the current tax deductions, taking this away will put a huge dent in Mr. and Mrs. Regular Joe's tax returns and tremendously damage the mortgage industry.
I'd bet they will over correct just as they allways do. Look to the UK and Austraila as an example. They were smart and raised the rates in 2003 when we should have started. Greenspan and team have a history of over correcting.
ALSO! There is alot of buzz about change's to the tax code and to get rid of the Real Estate deduction. I don't see how they can do this but they sure are talking about it alot lately. Imagine! Scary!!!!!!!!!
I may be nutz but I fell the whole world is about to come on to hard times. Have you ever heard the saying "if the US sneezes the whole world catches a cold." Well the US is about to sneeze.
$88 billion in debt may become junk. http://www.chron.com/cs/CDA/ssistory...siness/3387898
I have been reading more and more about the housing market cooling --NY and VA etc. More homes on the market and people lowering asking price.
The mortgage deduction is nothing more than a subsidy for the banking, real estate, construction, appliance making and home furnishing industries. What do most do with the money? Go out and buy some shit....
The year before a congressional election, I think it has absolutely zero chance of happening unless the crisis goes really bad.
Removing this subsidy for homeowners would be very unpopular and in the short term would depress housing prices.
It was a nice program while it lasted, but unless government is going to cut spending then they need to find the tax revenue somewhere...........
I think the bubble is going to burst, just like it did with the Tech Stock bonanza, I would lock in and get rid of what you dont need, while you still can lets see where housing prices are a year from now my guess 25% to 40% less than they are today. Just my guess.