tag:blogger.com,1999:blog-2020965297376819658.post5944502541394095934..comments2023-05-07T01:54:22.688-07:00Comments on Effective Demand: Mortgage interest deduction plan in the budget has major oppositionUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2020965297376819658.post-68543336957718536952009-03-14T12:32:00.000-07:002009-03-14T12:32:00.000-07:00Ah...the real cost of living in the USA is finally...Ah...the real cost of living in the USA is finally catching up with people...and it's hitting from all sides.<BR/><BR/>I've always said...since I set foot in this country 25 some years ago, that it's not what it seems here. It's a facade at its best.<BR/><BR/>I know...this is a tangent to this topic but I think it's relevant because the increase in costs of living is coming and FAST. Because finally the fake wall protecting people here (and ironically sucking their money out of them) is finally falling down.<BR/><BR/>The analogy I use that illustrates this well is that Americans have, for the longest time, been driving behind a semi truck with little wind resistance while the rest of the world hasn't had that luxury and protection. <BR/><BR/>Now that truck has broken down and Americans driving straight into the real amount of wind resistance like the rest of the world.<BR/><BR/>Effective...I agree with you about the tax deduction on mortgage. I've always...always stated that it's the wrong reason to buy a house....and no better has this been highlighted than in this market. Does it makes sense for me to spend $40K in mortgage payments per year to get $10K back?? And that's only the first few years as you say since the reduction in interest is practically effective for the first few years.<BR/><BR/>This has been an excuse used by the NAR, NAHA, and MBA to dupe people into thinking somehow a home makes you money by making you save money. <BR/><BR/>Their house of cards is also coming down....it's built on a big scam.Anonymousnoreply@blogger.com