Posts Tagged ‘attack on mortgage interest deduction’

Here’s a good way to quickly put the breaks on the housing market recovery

Monday, October 15th, 2012

In a previous blog entry here on today I mentioned all it would take is a wrong “action” by the right person(s) to stall the current housing market recovery and that’s precisely what could happen next year with the MID (Mortgage Interest Deduction) as many in congress feel eliminating that or significantly reducing it will help make a dent in our massive national debt; but I simply ask, at what cost? Reversal of the currently delicate housing market recovery? Seriously?

I’m with NAR (National Association of Realtors) on this one, the MID is indeed vital especially in this housing market and even during the recovery. We need to keep home ownership incentives intact while on the path to recovery, not remove them or reduce them. If such incentives were reduced or eliminated that would almost certainly put the breaks on this recovery and that’s just bad for everyone.

~Scott McDonald