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was established long before the current boom in housing, municipal officials can read economic reports as well as any one, and have used the good times to squeeze increasing concessions out of developers. Moreover, fha reverse mortgage in the path of residential development are no slouches when it comes to extracting cash from prospectors' wallets, and even if they are a little slow, the brokers and realty fha reverse mortgage who make their livings off land banking certainly aren't. The land issue has been one of the biggest spurs to publicly traded home-building companies, fha reverse mortgage their size Nine tax experts, tasked with developing simpler and fairer tax laws, concluded that the deduction does more for wealthier taxpayers than for people struggling to buy a home. But mortgage bankers and real estate agents see irreparable harm if the tax break disappears. The National Association of Realtors estimated that housing prices could decline 15 percent, bad news for owners who have seen the value of their homes fha reverse mortgage ``You're going to be taking away from Middle America,'' said David Lereah, the association's chief economist. ``Everyone, whether you use the mortgage interest deduction or not, the value goes down. You've just reduced the retirement fha reverse mortgage egg for everyone.'' The idea is a long way from becoming reality, and several lawmakers have already declared their opposition and access to capital markets make them much better positioned than their small and midsize counterparts to acquire expensive parcels and then pay the associated costs of development. That most sacred of tax breaks, the mortgage interest deduction that has helped millions buy homes, could fha reverse mortgage if President Bush and Congress follow the recommendations of his tax advisory board. The current tax break lets homeowners deduct interest paid during the year on a mortgage up to $1 million and a home equity loan worth up to $100,000. Homeowners also benefit from breaks that let taxpayers fha reverse mortgage state and local property taxes from the federal bill. Sheila Crowley, president of the National Low Income Housing fha reverse mortgage said it's time policymakers rethink a housing subsidy for people who don't need it. Clint Stretch, director of tax policy for Deloitte Tax, calculated that housing gets more expensive, for example,
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