Author Topic: 'Fiscal Cliff' Deal Favors Housing Recovery  (Read 898 times)

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'Fiscal Cliff' Deal Favors Housing Recovery
« on: January 02, 2013, 12:47:58 PM »
Published: Wednesday, 2 Jan 2013 | 11:33 AM ET  By: Diana Olick
CNBC Real Estate Reporter

The housing market is on firmer ground today, as two major tax provisions survived the "fiscal cliff." Congress did not touch the mortgage interest deduction, and it extended tax relief for one year on mortgage debt forgiveness.

"An extension of the tax break is positive for home values by reducing the number of foreclosures and helping more troubled borrowers stay in their homes," wrote Jaret Seiberg of Guggenheim Partners. "That means less supply on the market."
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