The myth of the middle class mortgage deduction

posted by
August 7, 2011
by Anthony Randazzo  
Posted in Commentary

"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." (08/05/11)  

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