In the President's budget was just released and in it is a proposed scaling back on the deductiblity of mortgage-interest for high income earners.
While incremental (it falls to 28% instead of 33-35% for those making over $250,000 a year), this does make high priced Sonoma County homes a less attractive investment.
Ultimately, this will be one more factor driving prices lower.
Friday, February 27, 2009
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