“Homeownership is a gerontopoly.... Homeownership isn’t making younger generations wealthier. Rising real home prices effect a transfer of wealth from younger generations to older ones.” http://cityobservatory.org/gerontopoly-homeownership-wealth-and-age/ …https://twitter.com/l__macfarlane/status/994144963997904896 …
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Ok... not sure it changes the economics of cities and that at one point, prices have to stabilize with regards to personal income. Or else the workforce to maintain cities cannot live there. R u saying such a program to would be needed again?
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Also contributing to increasing prices, the effect of historically low interest rates, and federal tax subsidies on mortgage interest and property taxes. Rising rates and recent federal tax changes will impact potential buyers.
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By the way, can you send me reference material? Are you talking about the mortgage rate deduction law as "a giant fed prog targeted at White Americans" ? I hope not, because many other countries without such provisions are having the exact same problems. France, Canada...
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She’s talking about the history of suburbs in the US which encompasses much more than the mortgage rate deduction. http://americanhistory.oxfordre.com/view/10.1093/acrefore/9780199329175.001.0001/acrefore-9780199329175-e-64 …
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