I not so secretly want federal housing policy to be a much more central issue in the Democratic primaries.https://twitter.com/kimmaicutler/status/1089709242666213377 …
It's a combination of both. MID intersects with home values, it's deeply regressive and before the standard deduction was increased in 2017, California took about 20% of that $70B tax break, which then got priced into higher housing values. http://realestate.wharton.upenn.edu/wp-content/uploads/2017/03/436.pdf …
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On the flipside of that, the federal government only spends $3-5B/year on homelessness, when it was de facto propping up CA upper middle class homeowners with MID deductions worth probably $14B...
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(Homelessness is also more of a federal issue than voters perceive it to be.)
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