The National Association of Realtors says that they will fight any threat to eliminate mortgage interest as an income tax deduction. They claim that it makes home ownership more affordable, and the housing industry and consumers will be harmed by the loss of the mortgage interest deduction (MID).
They needn't worry. The MID is wildly popular, and few politicians dare to suggest its demise.
The New York Times has an interesting article about the MID, its beneficiaries, and its cost to the U.S. economy.
Tuesday, May 9, 2017
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