A couple of years late, Orzag jumps on the HomaFiles idea re: housing.

For a couple of years, I’ve been saying that private capital should be unleashed to stabilize the housing market.

How? Accelerated depreciation for residential  rental property with unabsorbed passive losses used to reduce ordinary income … and no capital gains on the property when sold – after a couple of years minimum holding period.

Well, well, well.

In a Bloomberg article “U.S. Can Rent Its Way Toward a Housing Recovery”,  Peter Orszag – Obama’s former budget guy – now proposes roughly the same idea.

Just a couple of years late.

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