Matthew Desmond, author of "Evicted," looks at the lives of Americans across the economic spectrum to gain insight into how homeownership, mainly through the mortgage tax deduction, keeps the U.S. unequal.
Since it hit the shelves, Matthew Desmond's Evicted has introduced readers to those on the extreme losing end of the housing crisis. Desmond's sociological approach continues in this piece, which goes into how the mortgage tax deduction came to be and how it augments American inequality.
Criticized by some for focusing on predatory landlords and letting comfortable homeowners off the hook, Desmond touches on that issue here. The statistics tell a story of gaping inequality: "The average homeowner boasts a net worth ($195,400) that is 36 times that of the average renter ($5,400)." Desmond goes on to lay out a sordid history for homeownership. "It is difficult to think of another social policy that more successfully multiplies America's inequality in such a sweeping fashion."
The deduction, which Desmond sees as a form of welfare for those who don't need it, has innocuous origins. "The MID came into being in 1913, not to spur homeownership but simply as part of a general policy allowing businesses to deduct interest payments from loans. At that time, most Americans didn't own their homes and only the rich paid income tax."
Desmond argues that policies like the G.I. Bill, intentionally exclusionary by race, cemented the deduction into one pillar of a system that rewards the homeowner and penalizes renters.
FULL STORY: How Homeownership Became the Engine of American Inequality
Oregon Passes Exemption to Urban Growth Boundary
Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.
Where Urban Design Is Headed in 2024
A forecast of likely trends in urban design and architecture.
Savannah: A City of Planning Contrasts
From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.
Washington Tribes Receive Resilience Funding
The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.
Adaptive Reuse Bills Introduced in California Assembly
The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.
LA's Top Parks, Ranked
TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.
City of Rochester
Boston Harbor Now
City of Bellevue
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Birmingham, Alabama
City of Laramie, Wyoming
Colorado Department of Local Affairs
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.