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Huckleberry
15 years ago

Yup, the graphs speak for
Yup, the graphs speak for themselves. Price decrease velocity may be slowing but value is still be eroded quickly and affecting all price ranges.

I have a feeling velocity will pick up again when the mid and higher priced owners realize they are not going to be getting much of a “deal” out of this stimulus package, related to mortgage write-downs.

Case in point, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.

Sandi Egan
15 years ago
Reply to  Huckleberry

Huckleberry wrote:Case in
[quote=Huckleberry]Case in point, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]
Could you please provide a link?

David J
15 years ago
Reply to  Sandi Egan

Sandi Egan wrote:Huckleberry
[quote=Sandi Egan][quote=Huckleberry]Case in point, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]
Could you please provide a link?[/quote]

http://online.wsj.com/article/SB123559630127675581.html?mod=article-outset-box

davelj
15 years ago
Reply to  David J

David J wrote:Sandi Egan
[quote=David J][quote=Sandi Egan][quote=Huckleberry]Case in point, the Obama administration today announced a significant reduction in the mortgage interest rate deduction.[/quote]
Could you please provide a link?[/quote]

http://online.wsj.com/article/SB123559630127675581.html?mod=article-outset-box%5B/quote%5D

So, if you earn over $209K/year, you lose 20% of your mortgage interest deduction. That’s not happy times – don’t get me wrong – but it’s not exactly a killer, either.

CricketOnTheHearth
15 years ago

So judging by the graphs
So judging by the graphs (particularly the CPI-adjusted one) it looks like we have almost blown off the bubble, and gotten “down” to the secular peak. (I’m comparing to the previous peak of ~1990.)

The rate-of-change graph is an interesting one, it reminds me of something Robert Campbell would do. He very much studies the momentum of changes (in foreclosures, etc)

CricketOnTheHearth
15 years ago

Huckleberry wrote:
Case in

Huckleberry wrote:

Case in point, the Obama administration today announced a significant reduction in the mortgage interest rate deduction…

… for couples making over $208,000 a year. Their deduction goes from 33% of the interest to 28% of the interest.

Shoot, that’s just a nibble– and doesn’t affect small fry like me at all.

Just goes to show you, you always gotta ask, “Taxes on who??