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Stop subsidizing home ownership
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2013 Jul 15, 7:11pm 29,173 views 150 comments
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AussieGothamite
2013 Aug 1, 7:15am
Some would say that without very existence of Fannie Mae and Freddie Mac, no thirty-year fixed mortgages would exist. The nature of mortgage lending in other countries would seem to support this.
Would you go that far?
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My proposal:
- Keep the home mortgage interest deduction
- Pay taxes on the rental imputed income
This would make rental and home owning no different in financial terms. Swiss do it:
http://www.nytimes.com/2013/07/14/business/owning-a-home-isnt-always-a-virtue.html
#housing