Eliminating or curtailing the mortgage interest deduction would have a disproportionate impact on younger, middle-class families, who would see their ability to become owners significantly diminished, with sober implications for their longer term financial prospects.
Discussions on the need to restore the nation's languishing housing market has been prominent this week in congressional testimony from Federal Reserve Chairman Ben Bernanke and in newspapers across the country.
Builders urged Congress to proceed with caution and conduct a cost-benefit analysis before implementing any new regulations or requirements that call for the federal government to develop a National Ocean Policy, which the Administration is now contemplating.
Corporate America's chiefs do not expect the nation to slip back into recession, but say political gridlock in the United States and Europe could make for a long, slow recovery.
The Great Recession suppressed household formation patterns during the latter part of the previous decade, which drove up vacancy rates on all residential properties
The most recent jobs report--the weekly initial claims for unemployment benefits from the Department of Labor--shows slippage from a strong showing last week, but added with the prior three weeks' trends, is in positive territory.
The American Institute of Architects' (AIA) 2011 second quarter Home Design Trends survey shows stability in the residential market, but not the recovery predicted after an encouraging first quarter.