ITT we discuss the ongoing debt limit and budget talks

[rjd970]

it's the income that determines whether i get the deduction. what about those who bought before the deduction got eliminated? they should be punished because the current administration thinks that cost of living isn't a factor in wealth? and btw try buying a $400k house anywhere in southern california.

Who says one has to live there?

 

[BigPapaVol]

Who says one has to live there?

They don't have to, but the point regarding the cratering of that market and ensuing ripple through the rest of the market is spot on. Be prepared for huge wave of foreclosures to boot.
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[droski]

Who says one has to live there?

a lot easier to make that kind of money in new york than it is in kansas. anyone with half a brain factors in the mortgage deduction when buying a house. why are we punishing one group over another?

 

[milohimself]

it's the income that determines whether i get the deduction. what about those who bought before the deduction got eliminated? they should be punished because the current administration thinks that cost of living isn't a factor in wealth? and btw try buying a $400k house anywhere in southern california.

San Bernardino?

 

[droski]

San Bernardino?

i should have clarified that i meant anywhere i wouldnt' get raped.

 

[lawgator1]

The latest: Debt deal: Brace for spending cuts - Jul. 4, 2011