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Released: June 15, 2011
The misunderstood mortgage interest deduction
Source: Casey B. Mulligan, NY Times (Free Registration)
The home-mortgage interest deduction does not by itself significantly distort housing markets. Too much owner-occupied housing has been built because housing is excluded from sales and other taxes owed by businesses. The housing boom and bust of the last decade, and government revenue shortfalls, have brought back the topic of whether the government excessively encourages home building. Those discussions invariably mention the elimination of the home-mortgage interest deduction.Read Full Article: The misunderstood mortgage interest deduction
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