Now that the Senate has passed the tax bill, its high time we put our partisan griping aside and take a closer look at it. And while many have bemoaned the changes to the mortgage deduction as a plan to hurt homeowners, it is an element of the plan that both Republicans and Democrats should support.
Real estate professionals have come out against the plan, crying foul and claiming that it will eliminate incentives for homeownership and make more turn to renting. It all sounds like an awful deal for average Americans, but we need to check our logic.
In the middle of the twentieth century,…

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