Folks at the other end of the income scale get very little. First, since this issue so rarely sees the light of day, it's good to get the numbers out. Second, from purely a homeowner's perspective, the fact that the federal tax system is so generous can only be good news. It makes homeownership easier to afford, raises the economic value of owning a home and provides millions of people tax-free cash when they sell their shelter. From the perspective of nonhomeowners, on the other hand, the sheer size of the federal subsidies to homeowners can only be sobering, if not enraging.
Renters get virtually no subsidies for their choice of shelter.
No wonder that when Harvard University's Joint Center for Housing Studies looked at the net wealth of homeowners last year vs. that of renters, it documented vast differences. Harney is a writer syndicated with the Washington Post Writer's Group. The Real Estate area is provided for your personal, non-commercial use. Any reproduction, distribution or other use of the content in this area is expressly prohibited under the Terms of Service. Your use of this area constitutes your acceptance of the Terms of Service.