From Reason:
Conventional wisdom has it that without the ability to deduct mortgage interest from federal taxes, homeownership rates and housing prices would tumble. Worse, middle class families would be relegated a fate worse than foreclosure: renting. Two decades ago, these dire predictions may have had some relationship to reality. But in recent years, the middle class has seen its share of the mortgage interest deduction (MID) steadily erode, undermining the political case for retaining the subsidy.
For our continued discussion in 2302 regarding budgeting, revenue collection etc....
- Wikipedia: Home Mortgage Interest Deduction
