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Surprisingly, only 63% of homeowners itemize their deductions (which is how you take the mortgage interest deduction). The tax benefits of home ownership is som
by snikeris 9y ago
Surprisingly, only 63% of homeowners itemize their deductions (which is how you take the mortgage interest deduction). The tax benefits of home ownership is sometimes overstated.
https://www.nahb.org/en/research/housing-economics/special-studies/archives/mortgage-interest-and-real-estate-tax-deductions-policy-issues-2008.aspx https://www.nahb.org/en/research/housing-economics/special-s...
- brewdad 9y agoThat same article states that 94% of mortgage interest gets itemized and that 32% of homeowners have paid off their mortgages. The mortgage interest deduction helps most homeowners, at least until they are no longer paying any interest.
- fictioncircle 9y ago63% is still a clear majority and for the people in CA its a non-negligible thing. The 37% are mainly rural/midwest where the houses are under $500k.