How will ending the mortgage interest tax deduction (MID) affect home prices?
- Home prices will decrease initially, but level out. (45%, 85 Votes)
- Home prices will continue to decrease over time. (42%, 80 Votes)
- Home prices will be unaffected. (14%, 26 Votes)
Total Voters: 191
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Government as most institutions is growth oriented. Wouldn’t you like to see your friends get higher income and other friends get better jobs. Politicians are no exception. Given any rate of growth perminently compounding the unavoidable conclusion is 100% or in the case of government one hundred percent of the economy. This has been tried before. I does not work.
I concur with the above. It is another way for government to keep from helping people own a home. Instead of placing working people in a hardship position, why not cut your own budget Uncle Sam?
How about “no new taxes”? No need for new taxes when interest is no longer a deduction!!!! Just another tiny chunk of the middle class status getting removed. When people cannot find a reason to stretch for their own home, they will just rent. Who will own the housing???? Wealthy….banks. Not the American Dream of our grandfathers!!!!!