Home › Forums › Financial Markets/Economics › $500k and 33years old, when is enough enough?
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svelte.
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December 27, 2010 at 5:49 PM #646086August 31, 2011 at 9:18 AM #726548svelteParticipant
[quote=walterwhite]And I was thinking recently that your house gets more expensive later in the mortgage. No tax deduction means you’re out if pocket more per year. So maybe there is some rational component to leaving mortgages early[/quote]
This is exactly the reason we bought our current house, actually. Our income had risen, we owed virtually nothing on our house, needed a tax deduction in order to itemize. Besides, we were bored with our old house.
Of course we’ll be screwed if they eliminate the mortgage deduction…but I really don’t think they will, pandemoneum would happen at the ballot box. But then, I’ve often been wrong. Too often.
August 31, 2011 at 9:18 AM #726633svelteParticipant[quote=walterwhite]And I was thinking recently that your house gets more expensive later in the mortgage. No tax deduction means you’re out if pocket more per year. So maybe there is some rational component to leaving mortgages early[/quote]
This is exactly the reason we bought our current house, actually. Our income had risen, we owed virtually nothing on our house, needed a tax deduction in order to itemize. Besides, we were bored with our old house.
Of course we’ll be screwed if they eliminate the mortgage deduction…but I really don’t think they will, pandemoneum would happen at the ballot box. But then, I’ve often been wrong. Too often.
August 31, 2011 at 9:18 AM #727238svelteParticipant[quote=walterwhite]And I was thinking recently that your house gets more expensive later in the mortgage. No tax deduction means you’re out if pocket more per year. So maybe there is some rational component to leaving mortgages early[/quote]
This is exactly the reason we bought our current house, actually. Our income had risen, we owed virtually nothing on our house, needed a tax deduction in order to itemize. Besides, we were bored with our old house.
Of course we’ll be screwed if they eliminate the mortgage deduction…but I really don’t think they will, pandemoneum would happen at the ballot box. But then, I’ve often been wrong. Too often.
August 31, 2011 at 9:18 AM #727398svelteParticipant[quote=walterwhite]And I was thinking recently that your house gets more expensive later in the mortgage. No tax deduction means you’re out if pocket more per year. So maybe there is some rational component to leaving mortgages early[/quote]
This is exactly the reason we bought our current house, actually. Our income had risen, we owed virtually nothing on our house, needed a tax deduction in order to itemize. Besides, we were bored with our old house.
Of course we’ll be screwed if they eliminate the mortgage deduction…but I really don’t think they will, pandemoneum would happen at the ballot box. But then, I’ve often been wrong. Too often.
August 31, 2011 at 9:18 AM #727758svelteParticipant[quote=walterwhite]And I was thinking recently that your house gets more expensive later in the mortgage. No tax deduction means you’re out if pocket more per year. So maybe there is some rational component to leaving mortgages early[/quote]
This is exactly the reason we bought our current house, actually. Our income had risen, we owed virtually nothing on our house, needed a tax deduction in order to itemize. Besides, we were bored with our old house.
Of course we’ll be screwed if they eliminate the mortgage deduction…but I really don’t think they will, pandemoneum would happen at the ballot box. But then, I’ve often been wrong. Too often.
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