The large-scale subsidies to the housing sector is one of the least market-oriented aspects of the American economy, and as Mike Konczal observes they’re also hugely regressive, making it unlikely that the politicians who like to rant and rave about free markets will actually do anything about it:
Ridiculous. Phasing out the home mortgage interest tax deduction would be one of the very best measures we could take to reduce the long-term deficit.
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