From just about the peak of the bubble………
A favorite bit of mine…………
None of this is to argue that low mortgage rates haven't been a plus in the housing picture. Of course they have. But the imbalance between excess demand over limited supply, resulting from tax factors and land-use restrictions, has made home buying even more profitable in recent years than has been the case in the past. Which leads to a final thought: Why not apply the same tax laws that have benefited home owners to stock market investors and home buyers? If this were to come about, even more wealth would be created in America, leading to even more new business and job creation. Tax reform to create a level playing field could boost our economy's potential to grow beyond almost anyone's wildest dreams.
