Thursday, December 22, 2005

Homeowners Favor Keeping Interest Rate Tax Deduction...Well, Duh!

Survey: 85% Oppose Cutting Mortgage Interest Deduction(December 22, 2005) --

A recent e-mail survey by HouseHunt reveals that a whopping 85 percent of U.S. home owners oppose a proposal by President Bush's Advisory Panel on Federal Tax Reform to have a 15 percent tax credit replace the home mortgage interest deduction.

Only 6 percent of respondents favored the proposal, while the remaining 9 percent were undecided.

The NATIONAL ASSOCIATION OF REALTORS® has fought hard against the proposal, as has the National Association of Home Builders.

"Our survey represents a random sampling of home owners," says HouseHunt President and CEO Michael Bearden. "While not scientifically designed, we feel that our survey results accurately reflect home-owner sentiment."

Source: Inman News Features (12/22/05)

Ed.'s Note: My only question is, who are the six percent, and what is their rationale?

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