Thursday, May 19, 2005

Expensive and without deduction

Bloomberg.com: Bloomberg Columnists. It's Time to Drop the Home Mortgage Deduction: John M. Berry
Low mortgage interest rates are far more important than the deduction in making housing affordable. And while those rates undoubtedly will rise from their current very low level, the vast increase in competition among lenders in the mortgage market and the Federal Reserve's determination to keep inflation low should prevent mortgage rates from increasing to the high levels of the 1980s and early '90s.
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