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Wednesday, July 20, 2011

Right/Left Prepared to Ditch Home Ownership for Young Families

You have a kid on the way. You want to get into a good school district. You want to get started and work toward the American dream, right?

How is it a family-friendly policy, particularly, to make it harder for first-time homebuyers to get into the market?

Reports are already out that the mortgage interest deduction will be ditched in a way that doesn't protect families, but is geared to some bizarre notion of tax-code purities.

So far, rather than a cap on interest deduction or restriction to primary residence, it looks like the Senators are going for the plan that wipes it away.