Thornwood, NY -- (ReleaseWire) --05/23/2011 -- A rallying cry was heard this week from more than 90,000 realtors nationwide in defense of the Mortgage Interest Deduction (MID).
Also in favor is the American homeowner, according to a USA Today/Gallup poll which showed that 61 percent of Americans want the mortgage interest tax deduction to continue.
According to Marilyn Kaye, president of MLBKaye International Realty Inc.,“Having been a real estate professional for more than three decades, I have seen that every time there is a deficit in the budget, the first thing officials look to is real estate and that just doesn’t work.” she said. “Buying and selling real estate is integral to our economic growth as it creates a vast number of jobs -- more than any other industry.” Ms. Kaye added that “just one sale adds jobs, not just in the real estate sector, but in so many others.” Among the jobs created, she lists construction workers, contractors, painters, electricians and plumbers.
“When a home is purchased, there is often a need for new walls, new plumbing and electrical systems, security centers, new windows and doors, paint, air conditioning, water tanks, heating systems, new flooring and the use of lots of metal, wood and cement just to name a just a few items. When finished, a decorator is sometimes hired. Then, there are rugs, furniture, TVs, appliances, blinds, curtains, gym equipment and so on.” she said.
“This laundry list of industries and jobs just goes on and on as a result of just one apartment or house. Have you ever heard anyone say, 'I just bought a new house and I can't wait to leave it as it is?!” says Ms. Kaye.
About Marilyn Kaye
Marilyn Kaye is president of MLBKaye International Realty Inc., located at 1067 Park Avenue in New York City. With more than 30 years of experience and overseeing $14 Billion in residential transactions, Marilyn Harra Kaye is considered one of New York's most innovative and influential real estate professionals in Manhattan.