Subsidizing housing with deductions
综述了大量文献，评估住房费用税收抵扣对抵押贷款需求、利率、住房自有率、房价和福利的影响，发现这些抵扣扭曲了住房消费和投资，且具有累退性。
Abstract Many governments subsidize owner‐occupied housing by allowing households to deduct housing expenses from their taxable incomes. While these deductions provide considerable financial benefits to homeowners, they also have significant downstream consequences. This article synthesizes a large body of literature that assesses these implications on various aspects of the housing market, including mortgage demand, interest rates, tenure decisions, homeownership rates, housing prices, and welfare. The findings in the literature collectively emphasize the distortive impact of these fiscal deductions on housing consumption and investment, with a growing consensus regarding the deductions' regressivity and negative effects on homeownership rates and welfare.