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That wouldn't help with housing prices. Demand is still reduced when grandfathered owners try to sell. That would definitely make it harder to move for a new jo
by jmaygarden 13y ago
That wouldn't help with housing prices. Demand is still reduced when grandfathered owners try to sell. That would definitely make it harder to move for a new job.
- jlgreco 13y agoWell, in return for them finding it harder to move to a new job they would be getting a nice tax benefit.. seems approximately fair enough to me.
- gte910h 13y agoHowso?
- jlgreco 13y agoI don't understand your confusion. If they want to keep their tax benefit, they pay for it by having reduced labor mobility. If they are okay with giving up their tax benefit, they get their labor mobility back. Why should they have both, at the expense of others?
- jmaygarden 13y agoThat's a bait and switch. Perhaps they wouldn't have made the purchase without the incentive. If the mortgage goes underwater because the law is changed, then they lose a lot more than a tax benefit.
- gte910h 13y agoI think you're missing out the core conceit of this thread: ENDING the mortgage deduction hits all current house owners, and drives down prices for all currently owned houses.