Kevin Erdmann has a good op-ed in the Washington Post today, arguing one of the two core points that have defined his work for the past several years: Fannie and Freddie have set credit standards too high since 2007. (His other core point, that "closed access" superstar cities have made it too hard … [Read more...]
Premium link list
Recently I've been delaying posting a few things because I wanted to wait till I had more time to cover them, but I'm realizing that I'll probably have new things to write about on the 15th (which is when regular posting will hopefully resume), so have at it – your first ever premium link … [Read more...]
Links, links, links!
1. An bill that would replace New Jersey's court-mandated patchwork of inclusionary zoning programs with a more uniform 10% affordable housing mandate has left advanced through its Assembly committee after passing the NJ Senate, though Chris Christie promised to veto it.2. Last month I reported … [Read more...]
Mortgage-interest tax deduction cuts on the table
Urbanism doesn't get a lot of breaking news (that is, unless Eric Fidler's prediction pans out), but this might be an exception: the WSJ is reporting that Obama's (bipartisan?) deficit commission is considering cutting the mortgage-interest tax deduction. The reports are all very speculative, but … [Read more...]
Subsidies and Taxes Favor Owning Over Renting
Paul Krugman asks a question that has been addressed at Market Urbansim:But here’s a question rarely asked, at least in Washington: Why should ever-increasing homeownership be a policy goal? How many people should own homes, anyway?Listening to politicians, you’d think that every family … [Read more...]
Mortgage-Interest Deduction: The Unseen Costs
In general, I am opposed to just about any tax increase. However, the mortgage interest deduction is one of my least favorite tax breaks. First of all, it's a regressive tax deduction that transfers wealth from renters and businesses to homeowners. Second, it causes home prices to rise relative … [Read more...]