Monday, January 29, 2018 / by Sean Zanganeh
NAHB dispelled many commonly accepted claims seen in the media with their investigation, showing that the majority (86%) of homeownership MID tax benefits are received by middle-class households and that nearly 70% of those homeowners currently use the deduction. In fact, they state that at some point every home buyer benefited from it. Their findings also argued that declines in home sale prices would likely occur if MID was repealed, since it would reduce buying power for many homeowners.
How Does the Removal of the MID Affect Your Home?
Also discussed in the recent NAHB release was whether the removal of MID is considered progressive, negatively impacts those who seek to invest, it's affect on renters, and how the tax credit rate impacts individuals, landlords, and the housing market. To learn more or view the release, please click here.