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-- and well fiscal club survival kit today it is your home addition there is new talked a Washington may do away with the -- -- out tax breaks.
The home mortgage deduction or that could change the calculations.
And hit high income earners that worries David like -- managing partner mortgage banking solutions.
Joins me now from Austin, Texas with his fiscal club could be revival of -- -- your being with us on our series this week.
That now it worth -- -- about buying a home right now we should do why.
Absolutely interest rates are at the -- as affordability index.
Is that the highest great -- -- prices are low people are buying we're seeing a bottom form because of the investors that are coming in.
And picking up property is a rental so whether you're an investor or -- home buyer that's been displaced or a first time home buyer.
Did it in -- by now you're not gonna see a time like this for decades.
David why what I do that I'm gonna be a lose saying potentially my mortgage interest deduction there's also talk about changing some of the other.
Quote unquote loopholes.
Like you know primary properties.
You living in the house for two years.
You -- for five years right now you can sell it with no taxes paid at all no -- year old ever not right about change and that as well.
As a -- -- in the negatives David negatives for house.
Well if if that is a negative NFF -- I think that may impact foreclosure -- because I think those that are going to be losing that incentive.
To you know the taxes and about that they have that little bit that shows and their refund each month as a result of the mortgage deduction when that goes away.
That gives them one more incentive to just let go that house if they're really when things get tight.
But here's the upside and this is why -- recommend people to really look at this even more so than gold.
The inflation component is gonna kick in at some point these properties at these values are going to go back up it is an appreciation -- But you know what what -- -- but not it look at this point we're still looking -- -- to your recovery now we're talking about a four year recovery some of these changes.
Do you take up that I wanna -- your tips our viewers because your a cut -- -- to supply -- don't wanna go through them to get give a sensible people should be doing.
Right now you -- course interest rates may -- higher later by now.
It will become a nation of -- -- for investors fair enough you also say I think doesn't think it's gonna remain a good investment as the that cliff drive more people to rent.
But hasn't that already happened David have a we RD had to -- happen in the last three years with a foreclosed properties.
What there was a seminar here and there's a group of investors it was an invitational only had acted -- -- be invited to speak at it.
All real estate investors a lot of them.
And they one regret they have -- as they said if we had any clue how fast this real estate -- bottomless uniform and prices are gonna start going up.
We would've bought more there's billions of dollars to be yet invested.
In real estate.
This is gonna drive prices higher it's gonna be -- investors doing it -- not first time homebuyers and they're in this adding 4567.
David let's get a deal like the bullish tone on all of -- I certainly hope you're right David -- and thank you for being here appreciate.
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