Re: Government aid for US mortgages

[joanna bujes <jbujes@xxxxxxxxx>]

The chief govt support in the US for mortgages (that I know of)  is that
interest paid is tax deductible.

joanna

Chris Burford wrote:

> Gordon Brown and the British government have been looking enviably at
> the US mortgage market where long term fixed mortgages play a part in
> a mixed economy.
>
> Mortages in the UK are almost all short term. Arguably fluctuations in
> interest rates for national and international economic reasons, have a
> big impact on a key electoral constituency, and in turn cause short
> term swings in housing.
>
> In the preview of a studiously academic report to be published in
> London this morning, the BBC commentator noted that of course
> there is government support in the US for long term mortgages.
>
> What is this? and what is its murky economic and political history?
>
> Thanks
>
> Chris Burford
> London