Which will be first? Abandoned $500K homes in metro Milwaukee falling down from disrepair, or global warming setting them all on fire??
Mike Ruzicka, of the Greater Milwaukee Association of Realtors, says “we
are very concerned with the implications on residential real estate
with the tax bill.”
“Not being able to deduct over $10,000 will impact a lot of people,” he said. “It relates to the cost of housing.”
As he puts it, the “nickel and diming” effect of this provision would
make certain homes slightly more costly by a few thousand dollars,
edging some out of the buyer’s position.
“It raises the bar for getting over the hurdle to get a home -- that
will cause people to stay in apartments longer,” he told
WisBusiness.com....
Yup. Borrowing more than $750K to buy a house will cost you. Man, that's horrific.
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