Yale’s Shiller: Mortgage Interest Deduction “Looks Vulnerable”

0
Yale’s Shiller: Mortgage Interest Deduction “Looks Vulnerable”
By World Economic Forum from Cologny, Switzerland [<a href="http://creativecommons.org/licenses/by-sa/2.0">CC BY-SA 2.0</a>], <a href="https://commons.wikimedia.org/wiki/File%3ARobert_Shiller_-_World_Economic_Forum_Annual_Meeting_2012.jpg">via Wikimedia Commons</a>

Yale's Shiller: Mortgage Interest Deduction “Looks Vulnerable”

Case-Shiller Index co-author Robert Shiller spoke with FOX Business Network (FBN) about his concerns surrounding homeownership. Shiller said he thinks the mortgage interest deduction “looks vulnerable,” and might be rescinded for the “higher income people or higher priced homes” bracket. When asked what raising the tax revenue would do to home prices, Shiller said, “a lot of people don’t even take the deduction, so it’s not as big as you might think,” however, “it would be a hit on the housing market.”

 Excerpts from the interview are below:

Livermore Strategic Opportunities February 2021 Update

Clint CarlsonLivermore Strategic Opportunities, LP performance update for the month of February 2021. Q4 2020 hedge fund letters, conferences and more Many of you are witnessing first hand that our country, economy, (and now stock market) are all very fractured and becoming extremely challenged. Therefore, our hedge fund's theme remains focused on specific sectors and companies. Read More


Watch the latest video at video.foxbusiness.com


On whether Shiller expects us to rescind the mortgage interest deduction in the near term:

“Well, I don’t know about the near term, but it looks vulnerable to me, at least for higher income people or higher priced homes – they’re going to be looking everywhere to raise tax revenue and that seems to me like a likely place.”

On what raising the tax revenue would do to home prices:

“Well, a lot of people don’t even take the deductions, so it’s not as big as you might think, but it would be a hit on the housing market – how could it not be, it’s taking money out on people who invest in homes.”

No posts to display