Subject: Mortgage interest Deduction Comment: Dear Sirs I believe that elimanating the mortgage interest deduction will help to undermine the ability for affordable homeownership. The market conditions are such that home prices are rising at an astronomical rate and many families are shut of of the ability to own their own home. As interest rates rise this will be a more common accurance. We must preserve every incentive to owning your own home. This is truly one of the last ways for a Citizen to obtain a measure of wealth, and in theory should help elimanate some of the retirement burdens on our citizens and Social security as well.Real Estate has a "trickle down Effect " to many areas of our economy, job creation, major purchases, minor purchases, and even accounting and other professional services, such as Real estate agents and attorneys. One of our basic ideas for people coming to our great country is that if they work hard save some money, they can own their OWN home, and achive a basic eliment of wealth and self pride.... this is enhanced when they turn that key in the door of Their Own Home! Our Economy can hardly afford to have another "Hit" In closing I believe that distrubing the already working real estate market will have long term negitative effects to our economic well being as a country. We can hardy afford this with the cost of other items such as gas rising drasticly in light of world events. This is one more reason to give people NOT to buy a home, and they already have enough given the rising cost of home ownership and interest rates. I urge you as a citizen and real estate professional to recomend that we leave this deduction as it stands today Thank you for your consideration Michael a Boraca Broker Remax at Home Rolling Meadows Illinois |