The real estate market is just now starting a recovery from a near death case of pneumonia and so I’m worried to hear congress is thinking of sending us back to the hospital with real estate related budget measures like eliminating the mortgage deduction provision of the tax code. I think there may be some wisdom to this long term but now is not the time to touch this. Real estate is the back bone of our economic engine and has lead our country out of every recession – except this one. Eliminating the mortgage deduction provision, or Fannie/Freddie right now would create a massive hole in our market momentum and would surely have a disastrous effect on values, destroying our recovery.
NAR is increasing Realtor dues by $40 to fund a nationwide effort to protect real estate related budget provisions. I support this 100%.
To learn more about the initiative to here http://naractioncenter.com/E-mail this post