Housing is a significant driver of the national economy — it accounts for more than 15% of the gross domestic product. In addition, six of the last eight recessions have ended as a result of robust housing markets; war spending ended the other two recessions.
It Pays to Support Responsible Home Ownership
Understand the role that home ownership plays in our economy and the programs that help make it attainable and sustainable for responsible homeowners.
Your Mortgage Deduction: Turn Tax Savings into Home Value
There’s savings to be had when you own a home and take the mortgage interest deduction each year. The MID — representing hundreds and even thousands of dollars a year in tax saving to individual home owners — facilitates home ownership by reducing the carrying costs of owning a home. It makes a real difference to hard-working American families. A family who bought a home this year with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5%, could save nearly $3,500 in federal taxes when they file.
Have you ever thought about investing in real estate? Learn what to consider before making your investment, as well as the various types of rental properties and financing options available. Talk to us about purchasing rental property within an IRA. For many people purchasing only one or two rental properties in addition to their own home will provide substantial retirement equity and income. Many people find one or two rentals can be managed on the weekend and in their spare time.