Re:How Homeownership Became the Engine of American Inequality
by scarface74 on Tuesday May 09, 2017 @10:05PM
(#14305423)
The mortgage interest deduction doesn't help the middle class that much with today's low interest rate.
If you're married filing jointly, your standard deduction is already $12000 -- which is more than you would pay in interest the first year on a $300,000 mortgage at 4% interest.
If you're married filing jointly, your standard deduction is already $12000 -- which is more than you would pay in interest the first year on a $300,000 mortgage at 4% interest.
The median price of a home is $188,00 (http://m.huffpost.com/us/entry/4957604).