Home › Forums › Financial Markets/Economics › $500k and 33years old, when is enough enough?
- This topic has 980 replies, 33 voices, and was last updated 13 years, 5 months ago by
svelte.
-
AuthorPosts
-
December 27, 2010 at 5:49 PM #646086August 31, 2011 at 9:18 AM #726548
svelte
Participant[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 #726633svelte
Participant[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 #727238svelte
Participant[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 #727398svelte
Participant[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 #727758svelte
Participant[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.
-
AuthorPosts
- You must be logged in to reply to this topic.