… or you end up like this. (click)
Reduce tax breaks on owner-occupied housing so they can be more like Canada (and Australia I might add)? Who’d want to be like Canada and Australia right now. We are heading for the biggest real estate bust since the country was formed.
What the US could do to stop propping up housing is to prevent banks from holding forclosed stock back from the market. And as they puts more pressure on bank balance sheets – let them fail! Clean them up in chapter 11.
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