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Housing costs also go up because of the mortgage interest deduction. The home-owning middle class is living in subsidized housing.
by killjoywashere 9y ago
Housing costs also go up because of the mortgage interest deduction. The home-owning middle class is living in subsidized housing.
- TheAdamAndChe 9y agoAre you saying that the mortgage interest reduction is causing the insane housing costs in the cities? If this were the case, wouldn't we see an equivalent increase in costs in the somewhat rural areas?
- killjoywashere 9y agoAs people move away from the midwest, and the midwest economies lag, their housing costs should have cratered. Instead, they had the same 2008-2009 bubble popping everyone else saw, then continued to drift up. Source: bought and sold homes in 3 regions in the last 10 years. Also, you can marinate yourself in the trend lines on trulia.