For the most part, I prefer to keep the free money unconditional. But perhaps we also need a special allocation of free money for home owners. Purists might protest, but here are some powerful reasons for adding this provision:
- The home mortgage deduction is incredibly popular. Political reality says we need to replace it with something.
- Home ownership may well make for good citizens. People with a stake in the neighborhood have more incentive to keep it up than renters.
- Property ownership begets respect for private property. Once upon a time the right to vote was limited to property owners. Government stayed small. There might be a connection.
So, anyway, see my new article series, and realize that the potential benefits of moving from a mortgage deduction to simply free money for home owners is enormous.