Affordable Housing
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Your article describes the misery caused by housing shortages. We have read many similar articles in recent years on this problem, but seldom is the primary cause mentioned.
For years Congress and the IRS have been striking at rental property investors by every means, such as ever-lengthening depreciation terms, restrictions on deductions of interest and an especially devilish system of classification that divides income into “good” and “bad.” Rental income is “bad” income called “passive.” Losses from it can only be deducted in certain restricted cases. These are a few of the investment discouragements inflicted.
Why all this obstruction to investment for badly needed rental property? Behold the workings of the economics of envy!
The problems you described will not be relieved until the “politically correct” obstructions are removed and investment incentives are restored.
PAUL PERSCHBACHER
Camarillo
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