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This is fantastic news! It is likely to bring down housing prices at least a little, making housing more affordable around here.
someone else says
This is fantastic news! It is likely to bring down housing prices at least a little, making housing more affordable around here.
Making housing more affordable? Because of $4,500 a year for people that can afford a 750,000 house? ROFLOL.
bob2356 sayssomeone else says
This is fantastic news! It is likely to bring down housing prices at least a little, making housing more affordable around here.
Making housing more affordable? Because of $4,500 a year for people that can afford a 750,000 house? ROFLOL.
I actually agree with my friend Bob. If paying $100,000 more for a house makes no difference to them, $4,500 will make even less of a difference.
Apartment List analyzed the impact for cities, counties and states across the U.S. and found that San Francisco area homeowners stand to see a median cut in deductions of $4,500 in the first year. That figure puts the San Francisco-Oakland metro region just behind San Jose-Sunnyvale area at $5,400, the biggest projected deduction loss among any region in the country.
Over the term of a 30 year mortgage, that loss will amount to more than $100,000 for the median new homeowner in the San Jose area ($114,000) and San Francisco area ($109,00o), according to the report.
That's fucking awesome, tax games shouldn't be used to keep housing ridiculously inflated and out of reach for the common man in America.
Homeownership is the American dream not the American scam.
Dump your over priced shack the Tedster is getting out of the homeownership subsidizing business. We've got a real president now.
That's $1,296/yr extra they would be taxed in a year.
This is fantastic news! It is likely to bring down housing prices at least a little, making housing more affordable around here.
Bonus: no one but the banks actually benefits from such massive mortgages. Most buyers don't do math well enough to see that spending an extra dollar to get a 30 cent deduction is unwise, and so they think a big deduction is a good thing.