3 ms·
For instance, Canada (which, despite its resource based economy, is generally seen as fairly similar to the US) has no mortgage interest deduction, doesn't perm
by uiri 9y ago
For instance, Canada (which, despite its resource based economy, is generally seen as fairly similar to the US) has no mortgage interest deduction, doesn't permit mortgages for terms of longer than 5 years (amortization is generally for 25 years but you refinance as a matter of course at least every 5 years), and generally provinces are more tenant-friendly than the most tenant friendly US states (e.g. California) with things such as limiting rent increases based on government inflation figures. The tax rules around exempting capital gains from the sale of a primary residence are also different in Canada - more generous but also with more stringent requirements.