Posted: Oct 17, 2005 By: Jeff Stapleton

Subject: reduction of mortgage interest

Comment: Having been involved in construction for over twenty eight years and working with people to inprove their homes. I have seen that a majority of working people buy homes just to get the mortgage deduction on their taxes. Here in calif that is the only way they can afford to do so. If you pass the reduction I think it will cause a major decline in home prices and home ownership. We will see a simular collapse in real estate prices like the S&L mess in the late 80's that would cover the whole country. Please recosider your actions as not to compleatly destroy the middle class.
Thank You
Jeff Stapleton