Mortgage Deduction Looks Less Sacred

[partypup]

People: our govenment is TRYING to crash our economy. Don’t you get it yet?

If you were an individual with a 30K annual salary and 200K in consumer debt — all your credit cards virtually maxed out — what would you do? I’ll tell you: you would run up a tab on the last few cards with any credit availability, by all the shit you could, then file Chapter 7.

That’s the American way.

And that’s what our government is now doing. They know there is no other way out of this. They know that we can’t even begin to service the debt payments on the monster they are creating. They are now willingly accelerating the crash to get it over with.

DEFAULT OR MASSIVE DOLLAR DEVALUATION COMING THIS YEAR.

Count on it.

[afx114]

[quote=jpinpb]Not necessarily on this blog, but I can’t count how many times it’s been reiterated to me that I should buy b/c it’s a tax write-off.[/quote]

Exactly. The mortgage interest deduction is one of the main contributors to the housing crisis in my opinion. It was the perfect “excuse” for a lot of people getting mortgages they couldn’t afford. I heard this from plenty of people:

“Yeah, your mortgage might be $500 more than you’re currently paying for rent, but you save it in taxes!”

The fact that they are removing this “excuse” from the equation is a good step in my opinion.

[afx114]

[quote=jpinpb]Not necessarily on this blog, but I can’t count how many times it’s been reiterated to me that I should buy b/c it’s a tax write-off.[/quote]

Exactly. The mortgage interest deduction is one of the main contributors to the housing crisis in my opinion. It was the perfect “excuse” for a lot of people getting mortgages they couldn’t afford. I heard this from plenty of people:

“Yeah, your mortgage might be $500 more than you’re currently paying for rent, but you save it in taxes!”

The fact that they are removing this “excuse” from the equation is a good step in my opinion.

[afx114]

[quote=jpinpb]Not necessarily on this blog, but I can’t count how many times it’s been reiterated to me that I should buy b/c it’s a tax write-off.[/quote]

Exactly. The mortgage interest deduction is one of the main contributors to the housing crisis in my opinion. It was the perfect “excuse” for a lot of people getting mortgages they couldn’t afford. I heard this from plenty of people:

“Yeah, your mortgage might be $500 more than you’re currently paying for rent, but you save it in taxes!”

The fact that they are removing this “excuse” from the equation is a good step in my opinion.

[afx114]

[quote=jpinpb]Not necessarily on this blog, but I can’t count how many times it’s been reiterated to me that I should buy b/c it’s a tax write-off.[/quote]

Exactly. The mortgage interest deduction is one of the main contributors to the housing crisis in my opinion. It was the perfect “excuse” for a lot of people getting mortgages they couldn’t afford. I heard this from plenty of people:

“Yeah, your mortgage might be $500 more than you’re currently paying for rent, but you save it in taxes!”

The fact that they are removing this “excuse” from the equation is a good step in my opinion.

[afx114]

[quote=jpinpb]Not necessarily on this blog, but I can’t count how many times it’s been reiterated to me that I should buy b/c it’s a tax write-off.[/quote]

Exactly. The mortgage interest deduction is one of the main contributors to the housing crisis in my opinion. It was the perfect “excuse” for a lot of people getting mortgages they couldn’t afford. I heard this from plenty of people:

“Yeah, your mortgage might be $500 more than you’re currently paying for rent, but you save it in taxes!”

The fact that they are removing this “excuse” from the equation is a good step in my opinion.

[Chris Scoreboard Johnston]

I think you folks are under estimating the negative effect on everything this will have.

[Chris Scoreboard Johnston]

I think you folks are under estimating the negative effect on everything this will have.

[Chris Scoreboard Johnston]

I think you folks are under estimating the negative effect on everything this will have.

[Chris Scoreboard Johnston]

I think you folks are under estimating the negative effect on everything this will have.

[Chris Scoreboard Johnston]

I think you folks are under estimating the negative effect on everything this will have.

[scaredyclassic]

even smart people overestimate the impact of the interest rate deduction. highly educated people i know do not run the numbers. they think of it more as a credit than a deduction sometimes. weird.

people believe what theyw ant to believe. i ahd a dumb relative once who basically was under the impression that he had to buya house because the govt was basically paying for it for him. he’s a moron. but he had good timing.

still doesn’t change the fact that removing the deduction would have a big psyhcological impact ont he market in my opinion. people would ahve less reaosn to belevie what they want to beleive and that would depress sales and prices.

[scaredyclassic]

even smart people overestimate the impact of the interest rate deduction. highly educated people i know do not run the numbers. they think of it more as a credit than a deduction sometimes. weird.

people believe what theyw ant to believe. i ahd a dumb relative once who basically was under the impression that he had to buya house because the govt was basically paying for it for him. he’s a moron. but he had good timing.

still doesn’t change the fact that removing the deduction would have a big psyhcological impact ont he market in my opinion. people would ahve less reaosn to belevie what they want to beleive and that would depress sales and prices.

[scaredyclassic]

even smart people overestimate the impact of the interest rate deduction. highly educated people i know do not run the numbers. they think of it more as a credit than a deduction sometimes. weird.

people believe what theyw ant to believe. i ahd a dumb relative once who basically was under the impression that he had to buya house because the govt was basically paying for it for him. he’s a moron. but he had good timing.

still doesn’t change the fact that removing the deduction would have a big psyhcological impact ont he market in my opinion. people would ahve less reaosn to belevie what they want to beleive and that would depress sales and prices.

[scaredyclassic]

even smart people overestimate the impact of the interest rate deduction. highly educated people i know do not run the numbers. they think of it more as a credit than a deduction sometimes. weird.

people believe what theyw ant to believe. i ahd a dumb relative once who basically was under the impression that he had to buya house because the govt was basically paying for it for him. he’s a moron. but he had good timing.

still doesn’t change the fact that removing the deduction would have a big psyhcological impact ont he market in my opinion. people would ahve less reaosn to belevie what they want to beleive and that would depress sales and prices.

[Author]

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