We had a call to action this past week to push for keeping MID, not to modify…we need to do whatever we can to induce Congress to basically leave MID alone. Without MID, ultimately home ownership would not be as desirable. Perfect timing: I found this great interactive site and it shows the United States and all counties in each of the states with the average mortgage deduction and various stats along with it. In my own Miami-Dade County, the average MID is over $10,000!
Take a look at the statistics and mortgage interest deduction becomes more important than ever. The most meaningful aspect of MID is the tax deduction but the social aspects of homeownership are staggering:
- higher grades in high school and college
- less teenage pregnancy
- more involvement in their communities
- more stable marriages and so on.
It really is a win/win situation all the way around. So my Fellow REALTORS, home ownership is so much more than MID, let’s just hope Congress sees it that way.