The Money Markets and Housing--I

used to write and make speeches about all the ways in which our society was messing itself up, and how it could all be improved, and in his case the things that he talked about were fairly obvious and straightforward, and his conclusions were equally--what shall we say--visionary and utopian as mine. I don’t want any of you to think that I really believe that it is politically likely that we are going to turn about 180 degrees in our tax treatment of housing, but I do feel that an honest and clear economic appraisal of the system that we have would reveal tremendous deficiencies, which have the effect of having far too much housing--particularly in the mi,ddle and higher income brackets. In my own view there is no sound economic or other justification for this kind of treatment. Regulation Q." The Money Markets and Housing--I