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The false promise of homeownership Although there are federal policies designed to help households own their own homes, such as the mortgage interest tax deduction, homeownership is elusive for many, an expert at the Washington Post writes. As lawmakers mull changes to the U.S. tax code, including the break on mortgage interest payments, "the mortgage deduction should be seen for what it is: A substantial government subsidy that largely benefits middle-class and wealthy homeowners," the expert writes. "In 2012, it cost the federal government $68.2 billion. Only 3% went to households earning under $50,000 a year, while 77% went to households earning more than $100,000 a year."
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