Friday, February 27, 2009

Mortgage Interest and Housing Values: The Golden Mean

So this is the Administration of HopeyChangey.

Only a week ago, the O-and-Savior's gang of Enlightened Ones was trying to find a way to prop up home values, remember? Something about "rescuing" homeowners in default...

Well, that was then. This is now.

The new proposal is to QUASH home-values, if those homes are owned by people earning in excess of $250K or so.

How to do that? Simple. Reduce the value of the deduction for mortgage-interest paid!

Maybe the point is to push UP the value of small homes, and push DOWN the value of big homes so there will be only one value for homes?

No comments: