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Subject:  Re: Thoughts on a Real Estate Bubble Date:  7/28/2002  1:30 AM
Author:  jkm929 Number:  218 of 297

But why in the devil is the U.S. government subsidizing my debt burden for purchasing a home?

The U.S. government wants to encourage home ownership.

At one time the U.S. government simply wanted to encourage people to borrow and spend as all consumer interest was deductible but that was done away with by the Tax Reform Act of 1986. No longer could instalment loan interest and credit card interest be deductible.

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