As mortgage interest deduction vanishes, housing market shrugs

 

Source: Jim Tankersley & Ben Casselman, N.Y.Times ( Paid Registration )

The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed.

In places like Plainfield Ill. the people selling and buying homes do not seem to care much that President Trump’s signature tax overhaul effectively, although indirectly, vaporized a longtime source of government support for homeowners and housing prices.

 

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