It came out recently that revoking the mortgage interest is on the table for Trump's tax reform that we'll eventually see perhaps later this year.
The only criticism that I see, and I see it often, is the very wealthy already have far too many advantages and benefits to which I say, just put a cap in place for how much you can deduct, or an earnings cap that excludes eligibility entirely (or a tier of somewhere in between).
I guess the Republican way of repealing this would be to gradually phase it out over the years. With Trump, who knows.
By removing it, you'll have the majority of the middle class not seeing a reason to buy a house, what with ever increasing property taxes, the difficulties of coming up with 20% down to avoid PMI, needing a bit of money for repairs and emergencies, etc.
With this you'd have a huge drop in demand which would affect the construction and materials industry for starters, most likely we see huge drops in real state values. REIT indexes and individual ETFs/funds would probably increase...
This would be regressive for the middle class and low income because landlords could charge more if no one's going to buy houses or condos.
The only criticism that I see, and I see it often, is the very wealthy already have far too many advantages and benefits to which I say, just put a cap in place for how much you can deduct, or an earnings cap that excludes eligibility entirely (or a tier of somewhere in between).
I guess the Republican way of repealing this would be to gradually phase it out over the years. With Trump, who knows.
By removing it, you'll have the majority of the middle class not seeing a reason to buy a house, what with ever increasing property taxes, the difficulties of coming up with 20% down to avoid PMI, needing a bit of money for repairs and emergencies, etc.
With this you'd have a huge drop in demand which would affect the construction and materials industry for starters, most likely we see huge drops in real state values. REIT indexes and individual ETFs/funds would probably increase...
This would be regressive for the middle class and low income because landlords could charge more if no one's going to buy houses or condos.
