That’s the concern amongst Realtor-types — and anyone else who has a vested interest in the health of the housing market.

Which really means . . . everyone.

I think there is a strong, two-part argument for leaving it alone:  1) don’t do anything to effectively make housing more expensive, while it’s still in recovery mode; and 2) something called “settled expectations” — namely, millions of homeowners have made purchase decisions factoring in the value of the deduction. 

I’m certainly not privy to what’s being negotiated in Washington.

But, here’s a safe prediction:  any eventual scaling back of the deduction is likely to reflect a compromise.

Translation:  look for phasing out, means-testing, a lower cap, etc.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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