PJ Media

Agreed.

Renters–typically the young, singles, and the less wealthy–should not have to subsidize homeowners. America should also not be creating massive market dislocations by policies like this.

In California, you would make more money buying a house than not (even without appreciation and negative-equity) purely because of the homeowner tax credit and mortgage interest deduction. Because interest was deducted, why would anyone bother to get a responsible mortgage that paid down principal?

But once again, the “conservatives” cry to big momma government when their particular form of welfare is cut. This injustice should end, but it won’t.