The New Conservative Housing Push
By SALIM FURTH July 29, 2019 2:57 PM
After home prices surged and then crashed between 2003 and 2011, many of us hoped that the housing crisis was behind us. Instead, the relentless rise in rent — which, unlike home prices, barely fell during the Great Recession — has revealed a bigger underlying problem. And Republican politicians in Washington have taken the lead in the search for policy solutions that ease the housing crisis while maintaining local self-government.
As is often the case, the first step toward good policy is to repeal bad policy. The Tax Cuts and Jobs Act of 2017 took a meaningful step toward cooling off the most inflated home prices by moving more taxpayers to a bigger, simpler standard deduction. Old and busted: tax incentives that promote mortgage debt, high local taxes, and overpriced homes. New hotness: not paying extra taxes because you rent.
This year, President Donald Trump, Senator Todd Young (R., Ind.), and Housing and Urban Development (HUD) secretary Ben Carson have all gone further, taking national leadership roles in calling for less regulation of housing markets... read more here.