Eliminating real estate tax deduction would hurt middle-class

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

Eliminating real estate tax deduction would hurt middle-class


WASHINGTON – Jan. 31, 2011 – According to a new study from the National Association of Home Builders (NAHB), a proposal to eliminate tax deductions for mortgage interest and real estate taxes would raise taxes disproportionately for middle-class households and make the income-tax system less progressive.
The study found that primarily middle-class taxpayers, with incomes between $50,000 and $200,000, benefit from the real-estate-related deductions; and larger households and families, such as those with children, earn the greatest benefits.
“Proposals to reduce or eliminate the mortgage interest deduction are short-sighted and would harm the economy and job creation at a time when housing is poised for recovery,” says NAHB Chairman Bob Nielsen. “The deduction is the mainstay of our housing policies and tampering with it would break faith with the millions of families who rely upon it to meet their household expenses – and with millions more who one day would like to be able to afford to own a home of their own.”
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UF survey: Florida’s real estate outlook perks up in several areas

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

UF survey: Florida’s real estate outlook perks up in several areas

GAINESVILLE, Fla. – Feb. 2, 2011 – Optimism has increased slowly but steadily in Florida real estate markets through the fourth quarter of 2010, a new University of Florida survey finds.
The fourth quarter Survey of Emerging Market Conditions found improvement in several key categories, including the outlook for sales in new single-family homes and condominiums, office occupancy, retail occupancy, land investment and capital availability.
Much of the optimism derives from politics with the defeat last fall of Amendment 4, a proposed constitutional amendment that would have required a referendum for all changes to local government comprehensive land-use plans, said Timothy Becker, director of UF’s Bergstrom Center for Real Estate Studies. The conclusion of mid-term elections also eased respondents’ uncertainty as it provided a clearer picture of the future.
“The state welcomed a new governor who has promised to make Florida a more business-friendly state,” Becker said. “If he can succeed on his goals, respondents believe it will have a positive impact on the real estate market. Any help in attracting new business to move or form in the state will no doubt have a positive impact on job growth.”
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Industrial market: Clear signs of recovery

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844  http://www.rickswift.listingbook.com/

Industrial market: Clear signs of recovery


SEATTLE – Feb. 11, 2011 – Coinciding with a noticeably improved United States office market, the national industrial property sector absorbed 28.6 million square feet of space during the fourth quarter of 2010, propelling what had been a net loss for the year into a solid gain, according to quarterly research on the U.S. industrial market from Colliers International Q4 2010 North America Industrial Highlights. According to Colliers, the growth likely heralds the beginning of the next up cycle for the industrial sector as demand for warehouse space – fueled by an increase in import and export activity and an improving consumer appetite for goods – is expected to rise.
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WASHINGTON – Feb. 15, 2011 – President Obama’s budget proposes a lower mortgage interest deduction (MID) for high-income families,

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"  239-357-1844  http://www.rickswift.listingbook.com/

Battle over the mortgage interest deduction


WASHINGTON – Feb. 15, 2011 – President Obama’s budget proposes a lower mortgage interest deduction (MID) for high-income families, but the National Association of Realtors® (NAR) plans to fight any change, and a number of lawmakers who view it as a way to raise taxes also plan to oppose the increase.
According to testimony presented by the National Low Income Housing Coalition to a bipartisan deficit reduction commission, only about one-third of taxpayers itemize deductions. The commission later recommended that the deduction be changed to a 12 percent tax credit, with only interest on a debt up to $500,000 eligible.
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Floridians still confident about economy for second month

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"   239-357-1844   http://www.rickswift.listingbook.com/


Floridians still confident about economy for second month


GAINESVILLE, Fla. – Feb. 23, 2011 – Consumer confidence among Floridians remained at 77 out of 100 in February, suggesting a sustainable and improved view of the economy, according to a new University of Florida (UF) survey.
The index rose seven points last month, an unexpected increase according to Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research, considering the economic climate in Florida. However, he considers it noteworthy that the index didn’t change dramatically this month.
“We had expected a correction to last month’s seven-point increase in consumer confidence,” says McCarty. “A second month at this high level makes it much less likely that the increase for January was an aberration and more likely that consumers view the economy and their personal economic situation as having improved.
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Housing less affordable for many Americans

Century 21 Birchwood Realty Rick Swift Realtor "Where your new home begins"  239-357-1844  http://www.rickswift.listingbook.com/


Housing less affordable for many Americans


WASHINGTON – Feb. 28, 2011 – Although home values have fallen over the past few years, housing affordability has significantly decreased for working owners and renters, according to an annual report released by the Center for Housing Policy, the research affiliate of the National Housing Conference.
The report, titled “Housing Landscape 2011,” provides an in-depth look at housing affordability trends for working households between 2008 and 2009 focusing on the effects of employment, income and housing costs.
According to the report, nearly one in four working households had a severe housing cost burden in 2009, spending more than half of its income on housing costs. Nationwide, some 10.5 million working households experienced a severe housing cost burden in 2009 – an increase of nearly 600,000 households from the prior year. This increase occurred despite a drop of 1.1 million in the overall number of working households.
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