IDBillzFan Posted November 15, 2010 Posted November 15, 2010 The deduction is still in place for up to 500K. You can't buy a condo for that price in many parts of California.
Peace Posted November 15, 2010 Posted November 15, 2010 You can't buy a condo for that price in many parts of California. Understood. For the highest price areas, 500K is jack squat. No part of the plan is perfect.
GG Posted November 15, 2010 Posted November 15, 2010 If the mortgage deduction remains on a primary residence, then the real property should not be available for use as collateral on a subsequent loan, e.g., a HELOC or a second mortgage. Don't borrow money against the asset until you outright own that asset. Hard to enforce that, because you are possibly penalizing people who have built up equity in their house and may actually be a better credit risk than someone who gets a full deduction on a primary mortage that's 80%-90% of the purchase price.
TPS Posted November 15, 2010 Posted November 15, 2010 Yeah...it makes up for a few flaws with it's easy-to-digest accuracy. The best are the economists (TPS, I'm talking to you) who chime in in the comments with "I'm an economist: It's not printing money." Yeah. Whatever. And regarding your note, this is me. Or I'm me. Or whatever. I am who am. Are you sh&^ting me? nothing in that video that I would disagree with. In fact, I like that part about the Fed buying securities directly from the Treasury. I am wondering also when the fed will start printing money and giving some to me...
Magox Posted November 15, 2010 Posted November 15, 2010 nothing in that video that I would disagree with. In fact, I like that part about the Fed buying securities directly from the Treasury. I am wondering also when the fed will start printing money and giving some to me... They are. If you've been buying stocks ever since the Jackson Hole Bernanke Speech of August 27th, then they have been giving you money
Peace Posted November 15, 2010 Posted November 15, 2010 nothing in that video that I would disagree with. In fact, I like that part about the Fed buying securities directly from the Treasury. I am wondering also when the fed will start printing money and giving some to me... My apolgoies then. Especially if you get a small percentage of the money they print.
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