President Obama has now presented his 2013 fiscal year budget and while many believe Congress will not support the proposed cuts and added spending, the National Association of Realtors (NAR) is focusing on the mortgage interest deduction (MID). NAR notes that “As in previous years, the budget would reduce the value of itemized deductions to […]
Are Mortgage Tax Breaks Breaking the U.S.?
Are Mortgage Tax Breaks Breaking the U.S.? The latest Case-Shiller housing data suggests that housing markets have now stabilized. Prices were higher in February 2010 than they were in February 2009. This stability makes it possible to move beyond stop-gap measures and to envision fundamental reforms that will make the next housing crisis less damaging. […]