We could pay for a lot of affordable housing nationwide with this $70 billion tax write-off for the upper middle-class.https://twitter.com/sonjatrauss/status/880090727811760129 …
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Replying to @kimmaicutler
Are you sure this write-off doesn't incentive people to buy, thus incentivizing people to build, this leading to more housing?
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Replying to @typesfaster
people don't build here, so it just gets capitalized into higher housing costs. http://www.mitpressjournals.org/doi/abs/10.1162/REST_a_00427?journalCode=rest …
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Replying to @kimmaicutler
Rolling back federal legislation (if it works -- I have no clue) because of local issues isn't fair though
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Replying to @typesfaster
it's a national issue. https://www.nytimes.com/2017/05/09/magazine/how-homeownership-became-the-engine-of-american-inequality.html?_r=0 …
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Replying to @kimmaicutler
By "we don't build here" did you mean we don't build in SF or nationally?
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Replying to @typesfaster
in most coastal markets, which is where the financial bulk of the benefit actually goes.
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it was never intended for this purpose. A fluke written into the 1913 code before mortgage access was widespread. https://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=1561&context=lcp …
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