“The 30 year fixed-rate mortgage and mortgage interest deduction (now capped, and less impactful given higher standard deduction amounts) have been a large cont

“The 30 year fixed-rate mortgage and mortgage interest deduction (now capped, and less impactful given higher standard deduction amounts) have been a large contributor to housing values being distorted from normal market prices.” I’m not sure how much of a factor that is - here in Australia our house price : household income ratio is, if anything, even more deranged than it is in the US, and 30 year fixed rates are unheard-of here - maybe 2 year fixed rates at certain times, but usually most mortgages are variable (and usually at higher rates than in the US).