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Apropos of a rent bad tweet I'll not amplify here, a reminder that the *most* government-subsidized form of housing in the US is... <drumroll>
the owner-occupied suburban single-family home!

Here's a thread:
1/ The government spends ~2x as much through the Mortgage Interest Deduction as it does subsidizing low-income renters through Section 8.*
*(These figures predate the Trump tax bill, which slightly lowered the MID cap)…
1b/ Guess who the MID benefits? High-income households!
That's because:
-The bigger a mortgage, the bigger the deduction (up to a cap of $750k)
-The higher your tax bracket, the more valuable the deduction
-Cheaper homes=lower mortgages=no benefit from itemizing, anyway
That mortgage you're getting tax breaks on? The federal government gives lenders guarantees to make sure it's something you can afford in the first place.…
Need help buying? Here are all the programs the federal government has:…
2c/ Fall on hard times?
State and federal government protect your home equity from creditors during bankruptcy:…
2d/ Make a killing by doing nothing?
The federal government exempts up to $500,000 in capital gains from taxation when you sell your home.…
3/ BUT AS IMPORTANTLY, the physical suburbs themselves are basically the product of federal subsidy.…
4/ Basically: Building a free-standing house in an open field is *cheap* (compared to building urban infill). BUT connecting that house-in-a-field to services, job clusters, shops, etc. is pricey.
--> the feds took care of the pricey part!…
5/ For instance, take sanitation:
the per-capita cost of sewers and treatment plants are much lower in dense urban areas -- but by the 70s, the federal government was picking up 75% of the tab.…
6/ Then there are the shops:
Starting in 1954, an IRS rule allowing accelerated depreciation of newly-built income-producing properties steered massive amounts of capital to suburban strip malls and box stores.
7/ And the big one: the freeways that make most suburban development viable.
-After WWII, the federal government covered 90% of the costs of building the interstate system
-To this day, about half of highway funds come from subsidies…
8a/ Freeway subsidies were a racism triple-whammy:
-Facilitated white flight/disinvestment in urban POC neighborhoods
-Construction often meant bulldozing urban POC communities and/or cutting them off from downtowns
-Guess who got left breathing exhaust?…
9/ Which is a microcosm of all the suburb subsidies-- discrimination meant they principally benefited whites.
So when you hear someone trashing "public housing" or "subsidized housing," they're probably not talking about ALL subsidized housing . . .…
. . . they're even not talking about the MOST subsidized housing.
They're just talking about the exception: the minor, meager, and inadequate subset of federal housing subsidies that have disproportionately served the poor and POC.
*real bad twete
Ooh, here's the killer chart on current subsidies. Ref:…
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