Paul Krugman asks a question that has been addressed at Market Urbansim: But here’s a question rarely asked, at least in Washington: Why should ever-increasing homeownership be a policy goal? How many people should own homes, anyway? Listening to politicians, you’d think that every family … [Read more...]
Mortgage-Interest Deduction: The Unseen Costs
In general, I am opposed to just about any tax increase. However, the mortgage interest deduction is one of my least favorite tax breaks. First of all, it's a regressive tax deduction that transfers wealth from renters and businesses to homeowners. Second, it causes home prices to rise relative … [Read more...]