Housing Tax Credit an Utter Waste of $20+ Billion – We Told You So

Followers of Commercial Mortgage Loan Blog knew long ago that the housing tax credit was a dumb idea. We posted as much months and months ago. Now a study, by some academic types at Northwestern, have studied it and came to the same conclusion:

The housing tax credit:

  • Did not effect the overall number of houses sold.
  • Went mostly to healthy markets. And,
  • Revised to the mean when it expired.

Great, another $22B down the rat hole. Read Tax Prof’s post about the study here.

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: