End of Mortage deductions in real estate industry , an historical outlook

http://www.ft.com/cms/s/0/20f61ca4-5b6a-11e3-848e-00144feabdc0.html#ixzz2mQrKQLnvThe obvious starting point is the UK, where three of the most sacred cows of the postwar political economy have been home ownership, rising house prices and veneration for first time buyers...From the borrowers’ perspective the value of the debt eroded and real interest rates remained negative as they waited for the value of the home to go back up.