Friday, October 02, 2009

Time To Stop Subsidizing Home Ownership

Though I wouldn't get rid of the mortgage tax credit without replacing it with an expanded standard deduction. Juinst Fox misses one impact of the subsidies, something Ed Glaeser pointed out recently, which is that subsidizing homeownership also encourages lower density development in the form of single family detached homes, because governance/ownership issues of common property areas are problematic.