Jackson, NJ · Member since 2017 · 167 posts · 48 votes
So I've seen a lot of people on the business channels saying the capping of the home mortgage interest deduction is going to kill the hi-end home market. Any tax attorneys/CPA's or other qualified folks on here that can chime in on how this well affect the REI biz?
@John S Lewis I don't see an issue with mortgage deduction as much as I see an issue with people in high tax states not able to do as much with their state taxes.
No I do not see this as an issue, many have stated that back in the 80s, the credit card interest and auto interest was eliminated and both have growth and seen new heights in their respective businesses. If Interest rates rise, that would slow home buying, as payments may grow larger than rental payments. Home Building is still VERY strong around the country with a very large backlog.