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  HIMD

  Like many government programs that go on for too long, this program no longer serves its original intent. That purpose was to make home ownership more affordable so that more Americans could own a home.

  But now this program subsidizes the purchase of wasteful high end housing,  second homes, and even upscale boats that qualify as second homes, not to mention the home equity loans that are so often used purely for more consumption.

  In addition, this deduction inflates the real estate market, and puts low income buyers at a double disadvantage because their tax break is so much smaller than the one enjoyed by wealthy people.

  What we should do is figure out a sensible transition and make this go away.On How does the Home Interest Mortgage Deduction affect sprawl? posted 2 years, 4 months ago 6 Responses