It has been suggested from some that Obama’s budget proposal would include a reduction in interest rate deduction for people earning $250,000 per year.

As a Bay Area Real Estate Broker, I think this is a horrible idea especially In Fremont California and surrounding cities. First off, Real Estate in the California Bay Area is one of the most expensive area on the planet! In order to afford these properties, income level has to support the prices. In other words, 250,000 income in California, Fremont and especially the Bay Area is not an excessive income. Other states have less expensive homes and therefore do not need the income to support the housing.

If California Bay Area has a lot of foreclosures now, just wait to see the disaster if the mortgage reduction program passes. Those who need that deduction and counted on it when they purchased the home will no longer be able to afford it. I think this is a bad idea especially for the Bay Area Ca. to view home prices in Fremont and surrounding cities in the Bay Area visit Http://www.BayArea-Homes.com