Tuesday, December 12, 2017

This is the stupidest thing I've ever read.

Republican tax plan poised to benefit landlords.

The theory is that people will not buy houses for themselves, but instead will invest in rental properties. Until they figure out that when you buy a house that way - you are paying a full percentage point higher for a loan. Non owner occupied is always a full percent higher in interest rates. So.... good luck with that.

Since the median house is now approaching 1 mil in almost all of the Bay Area proper, I'm guessing that is a suckers game. I'd rather pay the extra in property taxes.

Also, putting caps on the property tax deduction is only going to make the housing crisis worse. You are never going to get these houses to turn over now. But I'm mostly okay with the cap because the people in my State have never found a tax they won't vote yes on. They don't pay it, so who gives an eff?

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