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100% agree. It won't change. I'd say the thing that causes greater soaring house prices is the mortgage tax deduction. All that does is cause home prices to
by pfarnsworth 10y ago
100% agree. It won't change.
I'd say the thing that causes greater soaring house prices is the mortgage tax deduction. All that does is cause home prices to inflate because you factor in the tax deduction into the affordability of the house. On the surface it sounds great, but it actually does more harm than good because it causes prices to go higher.
But you can't get rid of that now, otherwise house prices across the board will plummet. And the Fed just spent trillions propping up the housing market with ZIRP, there's no way the government will let the housing market fall again.