Even if ending this deduction is in and of itself a good idea now would be an exceptionally bad time to do it.
And it has not been the case that houses “plummet” in value like new cars, so that is just a red herring.
I lived in rental apts. my entire life until 3 years ago so I know all about them. In many cases your rent goes up and up. In other cases you have very little security if you don’t want to move. They may as well be counted as a stimulus for the moving van industry if you want to look at it that way.
But regardless of all these things the solution to our problems isn’t giving more money to the government. They’ve squandered much of what they’ve been given and they will certainly squander any additional funds sent their way.
Taxed Enough Already was the slogan I thought, not gee, let me ask what more I can do for my government and “the children”.
Let the democrats make these gimme more proposals, our side needs to find a better way.
That's why I said to sunset it.
People who already have it, get it.
People who get new mortgages don't get it.
It will depress the price of houses slightly, but that just proves it's a subsidy.
And it has not been the case that houses “plummet” in value like new cars, so that is just a red herring.
Then why are so many people walking away from their mortgages?
Mortgage-interest deduction is a subsidy.
But you aren't honest enough to admit it, just as I predicted.