Homeowners Consumer Center Warns the US Congress and President Obama About Tinkering With The Mortgage Interest Deduction For Expensive Homes-Don't Kill The Golden Goose

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The Homeowners Consumer Center is warning if Congress, or President Obama start tinkering with mortgage interest tax deductions related to high income earners, and expensive homes, they may create upheaval in residential real estate markets nationwide. The group now warns if Congress, and the President eliminate the mortgage interest deduction for high net worth individuals, why would large income earners want to buy expensive homes? http://HomeownersConsumerCenter.Com

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We believe Washington, DC has a gigantic spending problem, and any tinkering with the mortgage interest tax deduction is an insane idea, and this tax break should not be on the table, unless in Obama's tax the rich vision he wants a nation of renters

The Homeowners Consumer Center is one of the premier advocates for US homeowners, and the group says, "We stand with the National Association of Realtors, the National Association of Homebuilders, and other trade groups in opposition to any congressional, or presidential tinkering with the mortgage interest tax deduction for all US homeowners, including high net worth individuals, or large income earners. We know President Obama's tax the rich might sound great to those who are not rich, but we are warning if President Obama, or Congress starts to mess with the mortgage interest tax deduction, we will see a dramatic decline in the new construction of expensive homes, it is a job killer for working class Americans, and those high income earners already in an expensive home just lost their number one incentive for staying in their house." The Homeowners Consumer Center also believes any tinkering with the mortgage interest tax deduction for any segment of income earners may have the disastrous results for a very frail US housing market, with an almost instant impact on all types residential real estate valuations. Why buy an expensive home, or why live in a upper middle class neighborhood, if there is no longer a reason to do so? http://HomeownersConsumerCenter.Com

On December 7th 2012 the Washington Times did a story revealing the fact that the US Federal Government borrows 46 cents for every dollar it spends. The news article said, "The federal government borrowed 46 cents of every dollar it has spent so far in fiscal 2013, which began Oct. 1, according to the latest data the Congressional Budget Office." The Homeowners Consumer Center says, "President Obama appears to like to roll out police officers, fireman, and school teachers as his poster children for tax increases. What happens if the President, and Congress pass legislation that eliminates the mortgage tax deduction for high income earners? We believe if the US Congress, and the White House enact any law that eliminates the mortgage interest tax deduction on luxury homes, or high income earners a good portion of the US residential real estate market will instantly be worth less money. The net result will be lower property tax revenue for county tax assessors nationwide. Property tax revenues are the biggest revenue generator for local police, fire, and schools. Is this really what President Obama, and the US Congress want? We believe Washington, DC has a gigantic spending problem, and any tinkering with the mortgage interest tax deduction is an insane idea, and this tax break should not be on the table, unless in Obama's tax the rich vision he wants a nation of renters, as opposed to a nation of homeowners. We are also telling the US Congress if you mess with mortgage interest tax deduction we believe you are killing the Golden Goose for local police departments, local fire departments, and school districts." http://HomeownersConsumerCenter.Com

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M Thomas Martin
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