XECO 212 Week 7 Individual Assignment A New House – Fiscal Policy
This CheckPoint helps you refine your decision to buy a house; it prepares you to explain in your final project how government spending, regulation and taxes affect the marginal costs and benefits of your decision.
Consider the role of government bodies that affect the strength of the economy.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Submit a 300 to 400-word response addressing the following points:
How do national government spending and taxation policies affect the strength of the economy, the housing market and your choice to purchase a home? For example, what would happen if Congress decided to increase/decrease government spending by a trillion dollars or increase/decrease taxes by a trillion dollars?
How would the removal of the Federal income tax deduction on mortgage interest affect the housing market and your decision to purchase a home?
What other specific government policies or programs (i.e. subsidized loans such as the FHA program.) affect your decision to purchase a home? How do they affect the housing market? Be specific and use statistics!
Bonus: Are there local government policies or regulations that affect the price and your decision to buy a home?
Tip: Both www.realtor.org
are excellent starting places to find how government policies affect the housing market. I have direct links to both these organizations' government policy pages for your easy reference.
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