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Originally Posted by FSETH
What I have heard is that there are some supporters of decreasing mortgage interest deductions for homes over 3,000 sq.ft. and basically eliminating them on homes over about 4,200 sq.ft. for environmental reasons. They basically state that the larger homes have a bigger carbon footprint and should be punished.
The entire real estate industry is a huge part of our overall economy. I really don't think eliminating mortage interest deductions across the board is a good thing. The problem isn't with people wanting to be home owners. It is with the banks giving people who were not economically qualified to be "owners" in the first place a mortgage. Or getting them into a larger house than they could afford with ARM mortgages. This goes back to the loosened Fannie Mae requirements of the Clinton era, IMO.
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That kind of crap I find completely....dumb. It doesn't take into account: extended families living together in a larger house, vs Britney Spears living in a mansion. Nor does it address anything real, just a cheap skate class way of making money....going down a toilet USA....head first.
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We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
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