According to the Experts…

“This is the very definition of a regressive policy—one that focuses virtually all of its benefits on the people who are already the most well off. Given that, it’s especially ironic that the MID is consistently sold to the American people as a populist policy designed to help the little guy. In reality, it’s the exact opposite.” —Stan Humphries, Zillow Talk: Rewriting the Rules of Real Estate

“Evidence shows mortgage interest deduction isn’t expanding access for new homeowners, instead it supports part of the market for those with access.” —Sarah Rosen Wartell, President at Urban Institute. National Housing Conference, December 13, 2016

“The mortgage interest deduction increases housing demand without increasing supply.” —Mark Calabria, Director Of Financial Regulation Studies At The Cato Institute. December 12, 2016

“In reality, this tax expenditure mostly subsidizes housing costs for upper-income Americans, and not for the middle class.” —A. Mechele Dickerson, A Law Professor At The University Of Texas. The New York Times April 14, 2015

“Homeownership is not like any other asset & we need to have a dynamic enough market to give people that choice” —Doug Ryan, Director of Affordable Homeownership at CFED. National Housing Conference, December 13, 2016