OBAMA VS. ROMNEY - Topic: Home Ownership Incentives

OBAMA VS. ROMNEY - Topic:  Home Ownership Incentives

The federal government has historically supported home ownership as a central value of the United States.  To what  extent do you support preserving federal home ownership incentives, such as the mortgage interest deduction?

Obama:  Home ownership is a critical component of economic opportunity, and I am committed to keeping responsible home owners in their homes and to ensuring Americans have a fiscally responsible path to home ownership.  One of the policies I signed into law as president was an expansion of the first-time homebuyer tax credit that helped more than 2.5 million families purchase a home for the first time. Since I took office, I’ve taken action that-combined with private-sector efforts my administration helped catalyze-enabled more than 5 million homeowners to get mortgage modifications, while expanding access to refinancing and targeting investments in the communities   hardest hit by the housing crisis.  Now, I’ve put forward a plan to help responsible borrowers refinance their mortgages and save $3,000 per year.

Romney:  I believe in the American dream of home ownership.  The best way to get the housing market going again is to get the economy moving in the right direction.  What struggling home owners need is good, quality jobs, not confusing regulations imposed on lenders.  We need policies such as 20 percent across-the-board cuts in tax rates, sensible regulation and open markets that create a growing economy.  Policies like these will help Americans achieve their       economic goals, including buying a home.

Freedman, R. (2012, September/October). Two visions come into focus.
    REALTOR, , 10.