Remember when you could deduct your car interest payments from your taxes? History!

I heard this morning on the news that President Bush is in the process of reducing or eliminating deductions from home mortgages. That should cool off the market a bit. Coupled with the new bankruptcy laws which go into effect next Tuesday, it will be next to impossible to declare bankruptcy.

Rather interesting – no new taxes but increased revenue due to reduced deductions!

This might put home ownership on a level with renting! However, a new home here costs about $5000 a month, while you pay half that amount to rent an older house.