Comments on: Proposed Mortgage Deduction Changes http://www.bargaineering.com/articles/proposed-mortgage-deduction-changes.html personal finance blog with anecdotes, advice and commentary. Sun, 12 Feb 2012 22:21:00 +0000 hourly 1 By: jim http://www.bargaineering.com/articles/proposed-mortgage-deduction-changes.html/comment-page-1#comment-1625 jim Sat, 22 Oct 2005 13:07:21 +0000 http://www.bargaineering.com/articles/?p=384#comment-1625 Where have you seen $300k and change discussed? That's ludicriously low. Where have you seen $300k and change discussed? That’s ludicriously low.

]]> By: Matt http://www.bargaineering.com/articles/proposed-mortgage-deduction-changes.html/comment-page-1#comment-1623 Matt Sat, 22 Oct 2005 08:23:28 +0000 http://www.bargaineering.com/articles/?p=384#comment-1623 If the maximum cap is cut, as has been discussed, to $300k and change, that will affect a LOT more people than the current $1M cap. It does little good to adjust for geography if you have a maximum that's so low it doesn't even cover the cost of a tear-down in a lot of markets. Adjusting for geography, given that, doesn't so much mean that Californians, New Yorkers, Floridians, et al get a break as that Iowans and Michiganders also get punished. "Living in a million-dollar house" may still mean something...but "living in a $300,000 house" is simply a synonym for "not renting". If the maximum cap is cut, as has been discussed, to $300k and change, that will affect a LOT more people than the current $1M cap. It does little good to adjust for geography if you have a maximum that’s so low it doesn’t even cover the cost of a tear-down in a lot of markets. Adjusting for geography, given that, doesn’t so much mean that Californians, New Yorkers, Floridians, et al get a break as that Iowans and Michiganders also get punished.

“Living in a million-dollar house” may still mean something…but “living in a $300,000 house” is simply a synonym for “not renting”.

]]> By: jim http://www.bargaineering.com/articles/proposed-mortgage-deduction-changes.html/comment-page-1#comment-1622 jim Sat, 22 Oct 2005 04:49:31 +0000 http://www.bargaineering.com/articles/?p=384#comment-1622 Amit, you are correct, I initially misread the report and have fixed the post. Thanks! Amit, you are correct, I initially misread the report and have fixed the post. Thanks!

]]> By: Amit http://www.bargaineering.com/articles/proposed-mortgage-deduction-changes.html/comment-page-1#comment-1619 Amit Fri, 21 Oct 2005 21:31:58 +0000 http://www.bargaineering.com/articles/?p=384#comment-1619 From what I understand, regarding (1), the $1M limit is not on the interest, but rather on the mortgage amount. So reducing that will defeinitely have an effect even on "middle-class" families on the coasts. In CA/NY, starter homes can easily cost $500k+ From what I understand, regarding (1), the $1M limit is not on the interest, but rather on the mortgage amount. So reducing that will defeinitely have an effect even on “middle-class” families on the coasts. In CA/NY, starter homes can easily cost $500k+

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