Present Law, Data, And Analysis Relating To Tax Incentives For Homeownership, The Joint Committee on Taxation, September 30, 2011, JCX-50-11
“This document…provides general background on the tax incentives for homeownership. The first part of this document describes the tax provisions that offer incentives for homeownership. The second part provides a discussion of the economic incentives and data related to homeownership. Unless otherwise indicated, all section references are to the Internal Revenue Code of 1986, as amended (the Code)…The rate of homeownership, the fraction of all occupied housing units that are owner occupied, in the United States has averaged 65.1 percent over the last fifty years, fluctuating narrowly over a range from a low of 62.1 percent in 1960 to a peak of 69.0 percent in 2004. Based on one survey, the homeownership rate is 65.9 percent as of the end of the second quarter of 2011…Part two of this document includes a review of the economic literature related to identifying and measuring the externalities of
homeownership.”
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