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Also people who buy are subsidized by those who rent. We don't need a cap, the deduction shouldn't exist at all. In fact, homeowners should pay taxes on imputed
by harryh 9y ago
Also people who buy are subsidized by those who rent. We don't need a cap, the deduction shouldn't exist at all. In fact, homeowners should pay taxes on imputed rent like they do in The Netherlands, Iceland & Switzerland.
- JBlue42 9y ago>pay taxes on imputed rent What does this mean? Rent that the home would go for?
- harryh 9y agoYes. https://en.wikipedia.org/wiki/Imputed_rent https://en.wikipedia.org/wiki/Imputed_rent
- JBlue42 9y agoThanks. I wonder how that would work out in LA where we already have high rents, high houses prices, and lower wages. I don't quite know how much one can deduct off their mortgage in taxes but I would assume the imputed rent would be a similar amount in such a market?
- deleted 9y ago[deleted]