Reflections on the mortgage interest tax deduction

Article Abstract:

The US will lose an estimated $44 billion in 1993 from its longstanding policy of granting tax deductions for mortgage interests to homeowners. At present, there is widespread clamor to change the tax laws favoring homeownership as a means of raising revenue. Such a call, however, is misdirected since it will hurt the low-income borrowers the most and negativelyimpact the housing and mortgage markets. A better alternative would be to tax only net imputed rent or reduce the subsidy for property taxes.

Finance, taxation, & monetary policy, Taxation, Real estate, Real property, Tax expenditures, Tax benefit rule

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Housing to the rescue

Article Abstract:

Russia's economic growth may be fueled by activating its housing market. Such a policy lifted theUS out of the 1932 depression by creating employment and raising the value of houses. In Russia's case, it will show how a competitive, market-oriented system can be advantageous in the long run. However, it will require the privatization and the development of a housing finance system with adequate protection for both borrower and lender against inflation and default risk.

Russia, Economic development, Housing policy

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When good news is bad news

Article Abstract:

The high employment growth resulted in a high demand for credit, which caused rate increases. Investors sell older bonds with lower coupon rates at discounted prices to compete with higher-rate bonds. Housing, however, show increase in sales. No major problems are seen in the future as the economy retains its steady course. Inflation is almost three percent, and unemployment rate is around 5.5 percent.

Research, Employment, Bonds, Bonds (Securities), Business cycles

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