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  • August 17, 2011 at 3:06 PM #19042
    admin
    Keymaster

    Interesting article in NYTimes:

    THE United States spends more than $100 billion annually to subsidize homeowners. Renters get no breaks; homeowners get tons of them. Their mortgage rates are subsidized through the government-sponsored enterprises Fannie Mae and Freddie Mac; they get a big deduction on federal income taxes for mortgage interest payments and for state and local property taxes; and they even get favored treatment on capital gains from the sales of primary residences.

    http://www.nytimes.com/2011/08/17/opinion/why-we-should-end-homeownership-subsidies.html

    http://www.nytimes.com/roomfordebate/2011/08/16/a-chance-to-reshape-the-economy

    August 17, 2011 at 3:32 PM #720482
    all
    Participant

    I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

    And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).

    August 17, 2011 at 3:32 PM #720575
    all
    Participant

    I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

    And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).

    August 17, 2011 at 3:32 PM #721174
    all
    Participant

    I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

    And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).

    August 17, 2011 at 3:32 PM #721329
    all
    Participant

    I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

    And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).

    August 17, 2011 at 3:32 PM #721694
    all
    Participant

    I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

    And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).

    August 17, 2011 at 3:56 PM #720497
    Anonymous
    Guest

    Of course this is a subsidy. A homeowner and a renter all else being equal, the renter pays far higher income taxes. That is discrimination pure and simple.

    August 17, 2011 at 3:56 PM #720588
    Anonymous
    Guest

    Of course this is a subsidy. A homeowner and a renter all else being equal, the renter pays far higher income taxes. That is discrimination pure and simple.

    August 17, 2011 at 3:56 PM #721189
    Anonymous
    Guest

    Of course this is a subsidy. A homeowner and a renter all else being equal, the renter pays far higher income taxes. That is discrimination pure and simple.

    August 17, 2011 at 3:56 PM #721344
    Anonymous
    Guest

    Of course this is a subsidy. A homeowner and a renter all else being equal, the renter pays far higher income taxes. That is discrimination pure and simple.

    August 17, 2011 at 3:56 PM #721709
    Anonymous
    Guest

    Of course this is a subsidy. A homeowner and a renter all else being equal, the renter pays far higher income taxes. That is discrimination pure and simple.

    August 17, 2011 at 4:27 PM #720517
    UCGal
    Participant

    A better description/headline for this topic would be something along the lines of “A case for ending home financing subsidies.”

    It’s possible to be a home OWNER and not get the benefits (other than deductible prop taxes.) It’s called having a paid for home.

    I don’t mind eliminating the mortgage interest deduction… But then again, I’m on the fast track to paying off my mortgage. My interest deduction is getting whittled away pretty fast.

    August 17, 2011 at 4:27 PM #720608
    UCGal
    Participant

    A better description/headline for this topic would be something along the lines of “A case for ending home financing subsidies.”

    It’s possible to be a home OWNER and not get the benefits (other than deductible prop taxes.) It’s called having a paid for home.

    I don’t mind eliminating the mortgage interest deduction… But then again, I’m on the fast track to paying off my mortgage. My interest deduction is getting whittled away pretty fast.

    August 17, 2011 at 4:27 PM #721209
    UCGal
    Participant

    A better description/headline for this topic would be something along the lines of “A case for ending home financing subsidies.”

    It’s possible to be a home OWNER and not get the benefits (other than deductible prop taxes.) It’s called having a paid for home.

    I don’t mind eliminating the mortgage interest deduction… But then again, I’m on the fast track to paying off my mortgage. My interest deduction is getting whittled away pretty fast.

    August 17, 2011 at 4:27 PM #721364
    UCGal
    Participant

    A better description/headline for this topic would be something along the lines of “A case for ending home financing subsidies.”

    It’s possible to be a home OWNER and not get the benefits (other than deductible prop taxes.) It’s called having a paid for home.

    I don’t mind eliminating the mortgage interest deduction… But then again, I’m on the fast track to paying off my mortgage. My interest deduction is getting whittled away pretty fast.

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