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Or maybe you should just attempt to post factual information and you'd be better served
Neither of you has in any way even begun to address the question. It's as if you do not understand that price changes have impacts on a market, or that elimination of the home mortgage interest deduction would in fact constitute a price change.
Neither of you has in any way even begun to address the question. It's as if you do not understand that price changes have impacts on a market, or that elimination of the home mortgage interest deduction would in fact constitute a price change.
What I asked you to do was to support your claim. You can't because you have no idea what the actual impact will be. You simply have your opinion that you can't substantiate. You can't quantify what th price change may be, on what level it impacts various housing price bands and you can't rule out that the impact could be immaterial.
Jeff Bezos started life poor. His parents did not give him his wealth.
Paul Allen's mom was a librarian, his dad was associate director of the University of Washington Libraries., Middle class at best.
Ralph Lauren was born poor
Howard Shultz of Starbucks grew up in a housing complex for the poor.
John Paul DeJoria grew up poor. He was living on the streets when he started Paul Mitchell Systems.
Larry Ellison dropped out of school when his adopted mother past away. He worked odd jobs before getting into Tech. He started Oracle in 1977.
Oprah Winfrey grew up poor.
Kirk Kerkorian had to start working when he was 9 to help support his family. He dropped out of the 8th grade to become a boxer
Ken Langone's dad was a Plumber his mom was cafeteria worker. He went to school and earned an MBA. Ended up partnering with Ross Perot and made a lot of money when Electronic Data System sold. He then helped found Home Depot.
David Murdock did not graduate from high school until 2009. He is in his 80's I think. He started with a $700 loan and rebuilt a diner then flipped it to make money. Eventually he built a real estate empire that included Dole Foods and Castle-Cooke. He also built Lake Sherwood Country Club not too far from where I live.
All of these people started with much less than I have and have much more than any of us have now. It is possible to start with nothing and build something out of it.
I started with nothing and still have most of that.
What I asked you to do was to support your claim. You can't because you have no idea what the actual impact will be.
When the weatherman forecasts "heavy rain," do you similarly laugh it off because he doesn't tell you how much rain there will be in hundredths of an inch? Eliminating the home mortgage interest deduction will significantly impact the market between sellers who bought with the deduction in place and buyers who would have to live without it. There simply is no valid denial of the point.
When the weatherman forecasts "heavy rain," do you similarly laugh it off because he doesn't tell you how much rain there will be in hundredths of an inch? Eliminating the home mortgage interest deduction will significantly impact the market between sellers who bought with the deduction in place and buyers who would have to live without it. There simply is no valid denial of the point.
I'm not asking you to measure within hundreds of an inch so hold off on your dramatics. If a weatherman forecasted significant ran fall he or she would give an estimate of the amount with some basis to support making the call. You can't even quantify the significant impact, or as you said earlier the significant reduction in the number of buyers. It's all overdramatized bs on your part
Neither of you has in any way even begun to address the question. It's as if you do not understand that price changes have impacts on a market, or that elimination of the home mortgage interest deduction would in fact constitute a price change.
local market conditions ultimately determine prices . until rates and or taxes increase things drastically they just play a tiny role . even 6-7% mortgages saw housing prices boom
You can be sure both the Real Estate and Construction industry will try to keep it. More likely it will be debased by increasing the standard deduction. But only 30% of taxpayers itemize as it is. Since over 60% are homeowners, most homeowners don't receive any benefit from the interest deduction as it is. I believe the effect is overstated.
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