Home ownership was a way to stabilize finances, by providing a way to create a known cost for the average person over the long term. Banks made stable money th

Home ownership was a way to stabilize finances, by providing a way to create a known cost for the average person over the long term. Banks made stable money through interest, and to offset the risks of foreclosure the banks quantified the risk based on income, etc. It worked very, very well. As an added benefit to the average person: The interest paid on the mortgage is tax deductible, and the 30 year mortgage offers the biggest benefit. More in this in a moment. The article then goes into 2008's crisis, but this a bad example. he barriers that prevented investment banks from commercial-bank activities (Glass Steagall) were completely wiped out. It took only 9 years (really, just 7) for that mistake to completely up-end our economy. Now back to the interest deduction: There is now a movement to remove this benefit. Both Republicans and Democrats see this as a windfall for more tax money. This is another article trying in a round-about way to sabotage the middle-class' only real tax deduction.