People have to live somewhere. I don't consider a tax break on interest on home ownership when the alternative is rent much of a subsidy.
I don't think we have too much housing. What we have is too little industry, so that some of the housing has been abandoned in areas in the most economic pain. Fix the unemployment, and you'll see the housing fill up again. Right now you have families that are having to squat with Mom and Dad because of the economy.
[ “When the Government Subsidizes something you end up with more of it, and people wonder why there was a housing bubble.....”
People have to live somewhere. I don’t consider a tax break on interest on home ownership when the alternative is rent much of a subsidy.
I don’t think we have too much housing. What we have is too little industry, so that some of the housing has been abandoned in areas in the most economic pain. Fix the unemployment, and you’ll see the housing fill up again. Right now you have families that are having to squat with Mom and Dad because of the economy. ]
I disagree, when the government started subsidizing houses (both through the tax break and freddie and fanny)it caused the price of housing to rise. This created a false bubble where housing costs in some places twice as much as it should if the regular market forces were left alone.