Overvaluated housing not limited to U.S. (International Herald Tribune)
As a weakening housing market appears to be dragging the U.S. economy into recession, the International Monetary Fund warned this week that home prices in other industrial countries were even more overvalued.
Tax filers: Be aware of changes and rules (Richmond Times-Dispatch)
Some important facts about filing your 2007 income tax return: WHAT’S NEW: Deduction for mortgage insurance premiums on home acquisition debt that was new or refinanced in 2007. Only taxpayers with adjusted gross incomes of $100,000 or less take the full deduction, which phases out as income increases. Homeowners granted forgiveness of mortgage debt in 2007 don’t have to pay taxes on the amount …