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Dump Mortgage deduction - ask a brit

Dump Mortgage deduction - ask a brit

Old Nov 18th 2005, 7:08 pm
  #1  
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Default Dump Mortgage deduction - ask a brit

You would think these idiots would do their homework...

http://money.cnn.com/2005/11/18/comm...tune/index.htm

They don't mention Miras was limited to an amount ($30k then 15k) and wasn't on 100% on 2 homes as it is in the USA - NO COMPARISON in my view..

The french moving to the UK drove up UK house prices - I wanna puke....

The moral of this story is that if the USA removes mortgage interest relief then US house prices will sky-rocket

I for one have no intention of buying this idiots book......
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Old Nov 18th 2005, 7:20 pm
  #2  
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Default Re: Dump Mortgage deduction - ask a brit

Couldn't be a*sed reading most of that - I'm not that bored.
BUT, french immigrants forcing up UK house prices ??? Come on please.
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Old Nov 18th 2005, 7:41 pm
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Default Re: Dump Mortgage deduction - ask a brit

Originally Posted by BigDavyG
Couldn't be a*sed reading most of that - I'm not that bored.
BUT, french immigrants forcing up UK house prices ??? Come on please.
You don't have a mortgage? If it ever passes, you'd wish you hadn't.
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Old Nov 18th 2005, 7:43 pm
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Default Re: Dump Mortgage deduction - ask a brit

Originally Posted by franc11s
You don't have a mortgage? If it ever passes, you'd wish you hadn't.
Nope, I only deal in cash

Given the reporters seemingly tenuous grasp of the facts I wouldn't give her opinions too much thought
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Old Nov 18th 2005, 7:47 pm
  #5  
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Default Re: Dump Mortgage deduction - ask a brit

The numbers from Nationwide, a building-trade group in Britain,
They mean the building Society?

And
British papers carried the news that an unrenovated vacation bungalow had sold for a record £2.75 million -- about 100 times what such real estate fetched in the 1960s
My parents bought their house for 8K in 1970 and sold it for 180k in 2005 .. of course it was 100 Times the value it was 45 years ago..

oh vey, talk about badly researched, what a cr*p article.

Seems we're not the only ones who think so Put out the bunting: Amity Shlaes is no longer writing for the FT
Note to the editor of the FT: sack Amity Shlaes now
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Old Nov 18th 2005, 8:16 pm
  #6  
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Default Re: Dump Mortgage deduction - ask a brit

Of course I only skimmed it, but it didn't seem to me that the article had a point.
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Old Nov 18th 2005, 8:54 pm
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Default Re: Dump Mortgage deduction - ask a brit

Originally Posted by franc11s
You would think these idiots would do their homework...

http://money.cnn.com/2005/11/18/comm...tune/index.htm
...

The moral of this story is that if the USA removes mortgage interest relief then US house prices will sky-rocket

.........
Wouldn't the opposite be true? Because mortgages would then become more expensive?
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Old Nov 18th 2005, 9:12 pm
  #8  
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Default Re: Dump Mortgage deduction - ask a brit

That article is actually insane, and doesn't even mention low interest rates in the UK for the past 5 years, the real reason for the property boom (unless it did and I missed it -- too lazy to check)
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