Home Loss Deduction

* Your May 21 editorial advocating a capital loss or an income tax deduction when selling a home for less than it cost sounds like wishful thinking, but is deceptively flawed.

A home is not an investment, the same as stocks or securities, as you state; a home is a place that one buys to live in. It gets old, deteriorates and loses its value as does a car. I suspect that people have been brainwashed to view their homes as “investments” because of interest deductions on mortgages, and because until fairly recently, they have steadily increased in price, most probably due to rampant inflation and speculation.

CARLO P. DeANTONIO

Encino