subject: The American Dream and Homeownership on the path to disappearing for some [print this page] The American Dream and Homeownership on the path to disappearing for some
Did you know about 44 percent of Americans owned their homes in 1940 and last year about only two-thirds owned their home? Economists say the deduction now mostly encourages wealthier Americans to perhaps take on more debt, that is because the deduction applies only to one third of taxpayers who actually itemize their returns, typically those with higher incomes.
