> your take home exam is a short essay on what you think the mortgage interest tax deduction (started in 1913) did to household debt
If what you describe holds true for mortgage debt, then we would expect the US to be in a uniquely bad position as a lot of other western countries do not have such tax benefits. But if anything, the real estate market in the US is more affordable, compared to the average salary, than in other western countries.
If what you describe holds true for mortgage debt, then we would expect the US to be in a uniquely bad position as a lot of other western countries do not have such tax benefits. But if anything, the real estate market in the US is more affordable, compared to the average salary, than in other western countries.