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Real Estate
The Real Estate Adviser |
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November 10, 2005
The Real Estate Adviser: Curious timing for talk of home deduction cut
By TOM KELLY
Special to the Journal
Special to the Journal
SAN FRANCISCO -- Every sports franchise has its untouchable player, every business its prized asset. So it came as no surprise when the mention of possibly eliminating the mortgage interest deduction for primary residences caused a huge uproar at the recent National Association of Realtors annual convention.
The mortgage interest deduction, viewed as a primary incentive to home ownership, was put on the table recently by a commission appointed by President Bush. Also up for discussion is the elimination of state and local property taxes as income tax deductions.
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