Friday, May 13, 2011

Hypocrasy in the Obama Real Estate Positions

I have received many comments from real estate agents that lack of a tax credit is hurting the current real estate market. Said another way, the tax credits (artifically) stimulated the markets and now that tax credits are no longer available, the real estate markets are challenging at best.

Here is the hypocrasy in the the Obama administration policies on real estate: they induced tens of thousands of families to purchase real estate by incentivizing them with a federal tax credit. Now they want to eliminate the mortgage interest deduction on taxes. Lure them in with tax incentives and then take the incentives and much more away with significantly higher tax burdens if/when the mortgage interest deduction is eliminated. Why does no one seem to notice that this administration has no clue about business, real estate and pretty much anything?? They are completely detached from reality...

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