Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
With the increase in the standard deduction the mortgage deduction will have little effect on the price of modest homes. The doubling of the standard deduction will reduce itemization bythe lower middle class to a negligible number.
I dont think the mortgage interest deduction has a very big impact on consumer choices outside of a very specific range of ppl. High income but not 'rich', living in expensive areas like the northeast.
I like renting because I can pick up and move on a whim, but I hate renting because of crappy landlords. They install the cheapest everything, take forever to fix things, and often half-azz repairs. If I owned my own home, I could install nicer accessories, have things fixed as soon as the repairman arrives, and make sure everything is done right. I guess you just have to keep moving until you find the right landlord.
Also, owning a home is a much better deal in the long run. You are paying to own something rather than paying to use something. Even factoring in maintenance and repairs, you are still coming out ahead.
Yeah, the whole paying to use vs paying to own really doesn't bother me. As I said, I pay to use utilities every month, I pay to use insurance coverage every month on the cars, etc. Just doesn't bother me.
I do agree a lot of landlords are not very good and treat their tenants poorly.
I've been renting for 20 years. We've never been kicked out of a place. That is an extremely rare occurrence. What can you do on your property that I can't do in my rental?
Eh. We never finish paying utilities, car insurance, etc. either. Who cares? Certainly not me.
you can't remodel to your liking or make additions.
America needs a big campaign, backed by the POTUS, to increase home ownership among minorities. Loan standards should be relaxed and banks should be encouraged to actively recruit blacks and Hispanics to take out mortgages, even when they have little or no savings and credit history. What could go wrong?
Love it!
Yes, let's take a problem that is improving on it's own with the market, get the government involved to tackle it and hope for the best! Then, when it all goes wrong and blows up, let's blame the market and call for more government!
Home ownership is one of the few places a less then prosperous person can speculate. Most of the times homes sell for much more than they cost even in a short term. In the proper places and times a few grand can be, is assiduously managed, doubled every few years.
This mostly applies at the start of a housing boom. Investors getting in late always lose. the investment banks financing the buy and sell flippers always make money because they control the markets that finance the speculators.
If I had 400 sq ft of live/work space, I could work from home and earn more money, but renting is where you pay a premium to enjoy temporary, impaired use of property, so I can't work from home.
Catcha-22.
No matter how many times you type (or copy/paste) that false narrative, it won't make it true.
All you are doing is comforting yourself by shifting blame.
If you can't work from home, then don't. Earning more means looking at all possibilities to get a bigger paycheck. If you choose not to, for any reason, then that is your choice and your fault.
America needs a big campaign, backed by the POTUS, to increase home ownership among minorities. Loan standards should be relaxed and banks should be encouraged to actively recruit blacks and Hispanics to take out mortgages, even when they have little or no savings and credit history. What could go wrong?
This - exactly.
There are a lot of people who should NEVER own a home - and for many reasons.
The premise is correct. Home ownership is a great way to increase a person's wealth through the gaining of equity. However, what the author gets wrong is the motivation behind it and the way to 'fix' it.
Blacks were denied from buying and living in many areas, but that was mostly because of government policy - yes, the government struck again. And, lowering the standards so less well off people of all colors could borrow a ton of money in an attempt to expand home ownership rates to poorer people had tremendous negative consequences, as we saw.
It is NOT going to happen. The supposed real estate mogul made ZERO mention of affordable housing and gentrification in his campaign, and continue to say NIL after he took office.
We here in CA has been waiting for YEARS for the state Republicans here to do something, anything. The Republicans in NY is NOT doing anything either. The GOP in the most unaffordable states ALL chose to keep silent. Making things affordable is NOT their cup of tea. They don't even know how to begin to talk about it. Let alone do something.
The ONE person who has a plan and has implemented a successful affordable housing program is Bernie Sanders. If there is a mastro on affordable housing, it's Sanders.
Distorting the market for social engineering purposes isn't a popular idea. Even the liberals in where I've lived before and now aren't even ok with this idea. The only time that would even work is if you're building a new development on some empty land that no one goes crazy about.
Last edited by e30is; 05-10-2017 at 06:19 PM..
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
