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.


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