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The 30 year fixed-rate mortgage and mortgage interest deduction...have been a large contributor to housing values being distorted from normal market prices. Th
by dagw 4y ago
The 30 year fixed-rate mortgage and mortgage interest deduction...have been a large contributor to housing values being distorted from normal market prices.
That should be easy to test. Hardly any other country has 30 year fixed rate mortgages and lots of countries have far lower mortgage interest deduction. Would be interesting to measure the distortions in those countries and compare to the US.
- jleyank 4y agoCanada has no mortgage interest deduction and feels it has a real problem with vacant/investment housing (particularly in Toronto or Vancouver). Given that it’s adjacent to the us this should give you useful data. But I think a big problem is that more housing would result in lower house values which would bother the crap out of oldies and conservatives.
- throwaway9870 4y agoAre you saying a young liberal owning a house would not be upset to see the price of it go down?