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The point is to incentivize the populace to take on stable obligations, the proverbial two kids and a mortgage. A stable, indebted population is a governable a
by avn2109 10y ago
The point is to incentivize the populace to take on stable obligations, the proverbial two kids and a mortgage.
A stable, indebted population is a governable and docile population. Somewhere there's a great quote about how "any man with a cottage of his own and a yard will never be a revolutionary, he's too busy" but I can't find it right now.
- humanrebar 10y agoHome ownership can also tie people down to a location when they should be considering relocating to places with more demands for their skills.
- aminok 10y agoThis is a typical unintended consequence of top-down economic planning. It turns out cookie cutter solutions imposed by fiat reduce people's welfare.
- digi_owl 10y agoMore succinctly, homeowners do not riot. Picked it up from a talk by David Harvey, but not sure where he got it from.
- tdaltonc 10y agoA man always has two reasons for doing anything: a good reason and the real reason. That's a good reason to have the mortgage interest deduction. The real reason is that home owners vote, and promising them money is a good way to get them to vote for you.