Mortgage Interest Deduction Archive

Inflation and the Mortgage Interest Deduction (MID)

Did You Know: The mortgage interest deduction (MID) was capped at $1 million in 1987 and not pegged to inflation. If it had been indexed, the MID cap would be over $2 million today. In 1987, following tax reform...

Margaret Thatcher on Mortgage Interest Deduction

Margaret Thatcher had many wonderful, short and powerful quips including the oft-said: “Socialism works … until the money runs out.” The Soviet Union and the whole of Eastern Europe disintegrated precisely as the money ran out.  The promised pensions never...

Understanding Figures Reported on the MID

According to the most recent public data from the IRS, there were about 144 million[1] US tax filers in 2010.  In the same year, the US resident population was 309 million[2] and the number of households was estimated to...

Seven Out of Ten Renters Say Owning a Home is a Top Priority

This is a guest blog post by Lora McCray, NAR’s Manager of Housing Opportunity. Last month the NAR’s Housing Opportunity program released the findings from its 2011 Housing Pulse Survey, which is an annual survey we conduct to gain...
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August 31, 2011

Mortgage Interest Deduction Facts

There is some talk that the mortgage interest deduction, or some portion of it, is on the table for a cut in the grand bargain over the debt ceiling debate.  Here are some figures on the mortgage interest deduction...