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Thanks Mad Max 50 and thank you Judy920. It is true that it will hurt people that own homes. The big point is that IT WILL HURT EVERYONE. Every person that gets a mortgage deduction (that will be eliminated) will have A LOT LESS MONEY to spend in the economy. Because of that, consumer spending will decrease which m...more
Eliminating the mortgage deduction is the worst thing you could do. If people lose the deductibility of interest, there will be untold numbers of homes that will be sold off. This, in turn, will create an excess supply of homes which will drive down the value of real estate. This will cause the value of everyone's h...more
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