The National Association of Realtors took out a full-page ad in Politico today, imploring Congress not to put a "tax" on homeowners. That tax, of course, would be a cap on the mortgage interest deduction for high income earners. The strange thing about the ad is that it portrays the U.S. housing market as a house of cards. Really. To see the ad turn to page 11 of the newspaper. In the same issue homebuilder Toll Brothers -- whose stock (to the surprise of few) is near its 52-week low -- is advertising brand new Maryland homes for up to $1 million. Hopefully, if members of Congress and their staffers apply for a mortgage they won't get socked with any GSE "adder" fees. Politico publishes on every day that Congress is in sessionâ¦
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