The National Association of Home Builders site, Housing Economics, has pulled together what must be the defacto standard when it comes to analyzing the issue concerning the mortgage interest deduction.
As Washington looks for ways to derive more revenue and bring down the deficit and area that has been discussed in the past couple of years has been the mortgage interest deduction – or MID. As you can imaging the National Association of REALTORs and the National Association of Home Builders have been very active in continuing to promote the value of the mortgage interest deduction.
Housing Economics published by the NAHB has produced a very comprehensive paper on the impact of the mortgage interest deduction. For those who want to go deep in to the weeds on this and see the technical details of the tax analysis, this will be a terrific article for you.
The analysis in this paper builds on earlier NAHB research examining the housing tax benefits including:
- The geography of housing tax deduction claims (2006)
- Discussion of housing tax item tax expenditure analysis (2008)
- Distributions of deduction amounts and policy issues (2008)
- Estimates of final tax benefits, inclusive of the itemization decision (2009)
- Age-distribution of housing deduction claims (2010)
- Income and family size distribution analysis of housing tax benefits (2011)
I think we can all expect that once we get through this fall’s election, that the conversation of whether or not to keep or reduce the mortgage interest deduction will be a topic of discussion in Washington in 2013.