"No one who is in favor of FT can explain how putting such a burden on real estate and mortgages would have any result except collapse. This plan is a disaster waiting to happen."
The beneficial aspects of the FairTax as it relates to home ownership have been explained many times on FR over the years. If you missed them, just go to www.fairtax.org
No it has not been explained. Only by accepting wildly unrealistic assumptions can this issue be dodged. There is no easy adjustment of wages and prices which MUST happen in order for equilibrium to be re-established. Even in the days of Classical Economics such adjustments were not as painless and easy as are expected under the FT.
And that does not even get into the nightmare raised by having no tax on existing homes and full tax on new homes. Anyone who tries to tell me that such a scheme will not collapse the home construction industry has no credibility since this would be the obvious result. While this would benefit current owners of homes such as myself it is not worth the destruction caused just to benefit me.