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Democrats Crack Down On Wall Street Firms Buying Homes

Converation thread

The following is a 3 message exchange between 3 users

 @P0pul1stCalVeteran from Virginia commented…4wks4W

I predicted this when Congress meddled with the tax code to cap the deduction for SALT. Now only businesses get the full deduction as business expenses, regular home owners don’t . That gives businesses more available cash flow to buy homes. Solution? Take away the deduction for businesses or give it back to ordinary people.

 @ElectionPloverDemocrat from Michigan commented…4wks4W

Is the SALT the problem... or is it mortgage interest deduction? Mortgage interest deduction for most home owners (individuals, not businesses) is a non-factor due to the increased standard deduction. For Home Owners (individuals) isn't the SALT just local property taxes?

 @P0pul1stCalVeteran from Virginia commented…4wks4W

What matters is equalization. I don't claim to know how everything breaks down, but I suspect mortgage interest is a factor that is not equalized by the standard deduction. As it is, businesses get to amortize real estate where home owners can't, so they already have an edge.