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Tag Archive | "mortgage interest deduction"

Financial Times: MID does not promote home ownership

Tuesday, February 22, 2011

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As budget hawks circle, the existential threat to the mortgage interest deduction for homeowners continues to grow. The tax break, which allows for a reduction in taxable income equal to the amount of interest paid on a home loan, is purported to cost the federal government $100 billion a year. Last November, President Obama’s deficit commission recommended eliminating […]

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Homebuilders ready to battle over mortgage interest deduction

Tuesday, January 18, 2011

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In a December column, I wrote about how increased pressure to reduce the national deficit could lead to elimination of the mortgage interest deduction. As an incentive for middle class homebuyers, the deduction has long been a sacred cow for those in the real estate industry. But it’s the second most expensive tax break, costing the […]

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