The only break we in the middle class get is the mortgage interest deduction on our taxes. I had a friend refer to his house as a money-pit because we have to spend money on maintenance. And I've had friends who lost a lot of money selling a house that had gone "upside down" (selling for less than the existing mortgage). Buying a house is a risk and has many challenges. A new challenge is people who want to take away our mortgage interest tax deduction.
The New York Times article , How Home Ownership Became the Engine of American Inequality by Matthew Desmond, May 9, 2017 (https://www.nytimes.com/2017/05/09/magazine/how-homeownership-became-the-engine-of-american-inequality.html) says our owning our homes increases inequality in America. Well, our saving for retirement or saving for our children's education can also be said to increase inequality. If you went to college, you increased income inequality.
When you hear people talking about income inequality, you better grab your wallet because someone wants to redistribute your wealth. We in the middle class need to be alert to efforts to separate us from our money.
Robert
If you get the print edition or want to see this in the library, the article is in the Sunday 5-14-2017 New York Times Magazine, page 48. Notice the cover article of this issue of the New York Times Magazine discusses open marriages. I just shake my head at how the NYT has changed over the years.
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