When I was thinking of buying a home, some people said "it's great because you can deduct your mortgage interest and property taxes." I haven't seen it help mor

When I was thinking of buying a home, some people said "it's great because you can deduct your mortgage interest and property taxes." I haven't seen it help more than the standard deduction yet, and even if I do it may only reduce my taxable income by a few grand. The only thing I can come up with as to why people think the deduction is so great is that people can be really bad at math and think removing tax on perhaps a few grand of income is a huge deal.. for the few thousand that are returned, I'm sure at least that much will be spent in home maintenance/repairs/tools/etc... I may sell soon and go back to renting. The only part that makes it work out is home value appreciation, which is somewhat speculative and overall seems worse/equal to other standard investments.