Plan to cut mortgage interest deduction stirs opposition

The L.A. Times reports:

The Obama administration's budget threatens to cut a benefit many Americans view as practically a right -- the mortgage interest tax deduction -- and powerful real estate interests are fighting back.

The move would affect only households earning $250,000 or more, but opponents say it could prolong the housing crisis by slowing already torpid home sales and deal another blow to home values ravaged by the market crash.

California and New York voted for Obama: as the saying goes be careful what you wished for.