3 ms·
It’s “worked” for a very long time. Greatest generation through even some older millennials have been able to treat their homes like a self filling piggy bank.
by bradleyjg 5y ago
It’s “worked” for a very long time. Greatest generation through even some older millennials have been able to treat their homes like a self filling piggy bank.
It’s natural that there would be a lot of denial that this can’t go on forever.
- bumby 5y agoI think from the economist perspective, it incentivizes the wrong behavior and ends up not helping those it was supposed to help in the first place. For example, the tax deduction incentivizes people getting the biggest house possible to maximize the deduction. It also disproportionately benefits the higher income classes because they are able to afford more expensive homes. So from a perspective of helping more people become home owners it’s bad policy. It’s actually better at helping people who already are in a class that can afford homes just be able to afford more expensive homes. From that angle, it never really “worked”. But so many people are accustomed to the benefit it’s virtually impossible to roll back.