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NAHB Reports Importance of MID on Your Home

your home and MID tax creditThere’s been lots of talk of mortgage rates and tax credits and cuts in the news lately and it can be hard to understand how it all applies to you and your home. A recent analysis by economists at the National Association of Home Builders (NAHB) on the mortgage interest deduction (MID) delves into how this particular tax provision benefits homeowners. Scrutinizing data collected by the IRS and the Census Bureau, NAHB released this information, explaining how MID effects your home and those around it.

NAHB dispelled many commonly accepted claims seen in the media with their investigation, showing that the majority (86%) of homeownership MID tax benefits are received by middle-class households and that nearly 70% of those homeowners currently use the deduction. In fact, they state that at some point every home buyer benefited from it. Their findings also argued that declines in home sale prices would likely occur if MID was repealed, since it would reduce buying power for many homeowners.

 

How Does the Removal of the MID Affect Your Home?

 

Also discussed in the recent NAHB release was whether the removal of MID is considered progressive, negatively impacts those who seek to invest, it’s affect on renters, and how the tax credit rate impacts individuals, landlords, and the housing market. To learn more or view the release, please click here.

Posted in: General Tagged: your home

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About Thesa

As your real estate agent, I understand the value of providing the best possible service to every buyer and seller. Listening carefully to fully identify not only your desires but also your needs. Then work diligently to ensure that both are accommodated to the best of my ability. We will stay abreast on changing market conditions, trends, developments and research all factors that could affect the purchase or sale of your property.  My success and your happiness greatly depend upon the quality of the relationship we achieve.  Through personal redefinition of the professional standards set by most agents, I hope set myself apart from the rest and become the first person that you think of for all of your real estate needs.

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Thesa Chambers, Principal Broker West + Main Homes
thesa@centraloregonbuzz.com
(541) 771-7064
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The data relating to real estate for sale on this website comes in part from the MLS. Listing broker has attempted to offer accurate data, but is not guaranteed accurate. All information presented is deemed reliable but not guaranteed.

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