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Newspaper
Scottsdale Progress
Location
Scottsdale, Arizona, United States of America
Date
Oct 05, 1974
Page
6
The $17 million Stony Mountain Views project on 23rd Street north of Shea Boulevard offers five new model homes. The 110 acre terraced development borders Phoenix Mountain preserve with 341 lots priced from 46995 to 56950 and a 10 acre future city park site.
Joseph B. Doherty of the National Association of Realtors condemns the committee plan to apply the LAL rule to real estate and to deny the $500 interest exclusion. The panel voted 14-11 to favor LAL for real estate and 11-9 to reject the interest exclusion, a move Doherty says would depress real estate investment, raise rents, push condos, and deter mid level investors and new developers.
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