The Soapbox

BocaHoo91

Joined: 06/03/2005 Posts: 31158
Likes: 52685


It will be interesting to see. My guess is if the economy is doing well,


housing market will continue to do well. If the cap on MI deduction at $1 million didn't tank the housing market, I'd be really surprised if lowering it to $750K does.

The increase in the standard deduction which takes away the benefit of the MI deduction for many taxpayers is an interesting one. That could have an impact, but I think home ownership is something people aspire to, not because they get to take an interest deduction, but because they want the stability, pride of ownership, and inflation hedge that comes with owning a house.

I'm far more concerned about the impact that 6 or 7% 30 year mortgage rates would have on the housing market than I am about any impact from the tax changes.

(In response to this post by WahooRQ)

Posted: 12/20/2017 at 12:05PM



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Current Thread:
 
  
Existing Home Sales figures are strong (link) -- Tuckahokie 12/20/2017 11:18AM
  Yes, the best in 11 years -- VaTechie 12/20/2017 1:09PM
  I talked my friend at 55 to do it -- VaTechie 12/20/2017 4:30PM
  Yes they do. I did (in part). -- WahooMatt05 12/20/2017 1:04PM
  Greatly? -- BocaHoo91 12/20/2017 1:40PM
  Granted, my adverb selection was imprecise -- NJHoo 12/20/2017 2:27PM

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