[quote=earlyretirement]…The government WILL eventually ease out of supporting the housing market and when they do it will be ugly. It might take a few years but I do believe it will happen. Personally, I wouldn’t mind seeing them get rid of the interest exemption as well.[/quote]
The MID (up to $25K annually for a personal residence) is the ONLY reason wealthy buyers take out a mortgage at all. If this were eliminated, these homeowners would simply retire their mortgages.
