Bravo to local citizens Lorraine Anderson, Marge Popp, Andrew Gray and Andrea Dailey, along with op-ed writers Therese Waterhous and Camron Settlemier, for helping us understand the power of the Oregon Realtors lobby as the organization tries to maintain subsidies for the wealthiest 5% in our state.
This 5% gets subsidies from their mortgage deduction no matter how wealthy they are. With HB2578 and HB2838, our representatives in Salem are merely proposing that the mortgage subsidies end for those who make $200,000 or more annually.
Income inequality in our country is a huge problem, and these bills would be a help. The real estate lobby, which is powerful in the Democratic Party as well as the Republican, is making the patently ludicrous claim that ending the deduction for high-income earners would make home buying harder for everyone.
Some Realtors probably do support an end to these subsidies and should receive our support, but we need to expose and defeat the regressive positions as well as the dishonesty of those who are fighting to continue the subsidies.