Laura Kusisto

speaker

689 appearances 14 recordings 1 series first heard Jul 2017 last heard Nov 2023

Laura Kusisto’s voice in public audio — every appearance, attributed to the second.

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As a result, homes are more expensive because people can deduct part of that off of their taxes. voice-verified

I think you eliminate that incentive for people to buy an even bigger home to get the tax break. voice-verified

Likely, this would be temporary. voice-verified

Home prices would probably go back up. voice-verified

But for sure, in the short term, in a few years, you could see home prices go down pretty significantly. voice-verified

Right. voice-verified

And this is a topic of much dispute, but I would say yes. voice-verified

If you try to synthesize all the research that's been done, the reality is that people, for the most part, taxes are so complicated. voice-verified

Most people aren't really thinking that through. voice-verified

When they buy their first home, they're buying it because they have a kid. voice-verified

They're buying it because they want to be able to paint the walls. voice-verified

They tend to be these much more tangible things. voice-verified

But yes, definitely once you're in that home buying process, realtors are saying to you, voice-verified

hey, look, let's sit down, let's pencil this out. voice-verified

You think that you can only afford this monthly payment, but what if you could deduct that from your taxes? voice-verified

And there's definitely some evidence that that influences and encourages people to buy bigger homes. voice-verified

Yeah, absolutely. voice-verified

There's an interesting anecdote that certainly officials at Treasury really wanted to take on the mortgage interest deduction in 1986. voice-verified

Ronald Reagan stood before 4,000 realtors and said, don't worry, we're not going to touch this. voice-verified

It's such a huge constituency. voice-verified

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