Would the value of a house go down? Would more people rent?
With nothing really changed, same amount of taxes "revenue neutral" collected (but with greater economic efficiency), higher overall and increasing incomes and growing GDP why would the value of assets like homes fall? Why would people be more inclined to rent than they would today?
Seems to me with a better economy and greater incentives for investment and savings, demand for home ownership should increase maintaining real values of homes not lower their value.
Some people think in the short term. They'll look at payments rather than total indebtedness. The price of a home would go up 23+% and for the "payment" types, it would discourage home ownership, but I like your answer better ancient-geezer, so I'm going to assume home owership would be neutral or go up. Thanks for the info.