The latest Case-Shiller housing data suggest that housing markets have now stabilized. Prices were higher in February 2010 than they were in February 2009, both for Boston and for Case-Shiller’s 20-city index. This stability makes it possible to move beyond stop-gap measures and to envision fundamental reforms that will make the next housing crisis less damaging. Lowering the $1 million cap on the home mortgage interest deduction is a good place to start.
Glaeser, Edward L. "A Tax Break that is Breaking Us." Boston Globe, May 7, 2010.