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A comment on Rocket Mortgage to trim 8% of workforce as home-loan market shrinks. Parent comment

Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by cactus2093 on Thursday April 28, 2022 @11:46AM (#31193967)
With the SALT cap at $10k and the mortgage interest deduction cap limited to $750k property value, the ultra-wealthy are not really benefitting from this as much as you are saying.

Someone with a $750-$1M home is getting roughly the maximum tax break available, and someone with a $5M home is paying for everything above that first $1M themselves* without any extra tax incentives.

*Except in California due to prop 13 many of them are paying a tiny fraction of the property tax they should be paying, but that's a separate issue.

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Re:Rocket Mortgage to trim 8% of workforce as home-loan mark... by onlyrealcuzzo on Thursday April 28, 2022 @11:52AM (#31194074)
Most "wealthy" people, by definition, are not "ultra wealthy". That's where the majority of the wealth is - but there's far better schemes to avoid taxes for that group.

Home buyers buying these x10 houses are pretty much limited to the top 10% in income - the vast majority of them are not ultra wealthy.

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