My promise to you in the upcoming mortgage battle
The economy in Nashville is one of the best in the country and most people in would like to see that continue in a positive way.
There is a danger that is looming on the horizon. We beat it back in 2013, though it’s not dead. I expect it to rear it’s ugly head again in the next few years.
That danger is the elimination of the mortgage tax deduction.
This deduction is one of the main reasons why so many people have enjoyed the American Dream of owning your home.
And I expect it to be under attack again because fewer, young Americans are buying homes and the need to raise revenue to pay off our increasing national debt burden.
It doesn't matters who wins the upcoming election, the proponents of eliminating this important deduction are waiting for the right opportunity to strike again.
It’s funny (to me anyway) that I am even writing to you about this. See, I never set out to be a real estate agent. I saw an opportunity in 2005 when I was looking for my next challenge and decided to sell bank-owned homes.
With hard work (and a lot of luck), I became successful at fixing broken homes and finding someone to make them useful again.
Originally, I saw the National Association of Realtors as a cost of doing business. It was a trade organization that I had to belong to in order to be successful.
However, the more I became involved, the more I learned from the leaders of this organization and saw the good work they do in our community and across the country.
It wasn’t until the recent battle over the mortgage tax deduction that I began to get involved. This deduction makes homes more affordable and keeps the engine running on the main driver of our economy, the housing market.
Although, I was being called to help by people that I admire, I still felt reluctant to get involved until there was a major push in Congress to remove this deduction. And I knew that most of us could not afford it, especially at a time when the economy was just beginning to move again.
After thinking how awful this could be, I felt a sense of responsibility to get more involved and do what I can to support the only organization fighting this battle.
It’s impossible to win the battle on my own. And I feel comforted by the passion of the national leaders taking this fight to Washington, and my colleagues who work hard to support them every day.
So, If you see me taking a more visible role in the Greater Nashville Association of Realtors, then you will know why.
I would love to hear how you feel about the Mortgage Tax Deduction and how it would affect your family if it is taken away.
Share your thoughts with me in the comments below.
I promise to use it as fuel to keep fighting for what’s best for all of us.