3 ms·

On the mortgage interest, yes (U.S.)

• gambiting 2y ago
  That's crazy. Wish that was a case here in UK.
  • ProfessorLayton 2y ago
    As a beneficiary, it's nice, but overall I believe it's unfair that homeowners get a tax break, while renters do not. Also it's a bit of a wash, as prices end up reflecting the tax break because bidders are ultimately going right up to their budget, and they take that into account. I wish there was enough housing so that it isn't seen as some sort of investment vehicle that distorts prices for basic human necessities.
  • bombcar 2y ago
    It's no longer a factor for many (most?) in the USA because the standard deduction went so high. And even then, only the amount above the standard deduction is effectively deductible, so it kind of is a wash. (Fun fact - if you have an expensive enough house it is better NOT to be married to your spouse, as if so each can claim up to $750k of mortgage, whereas as married it's only a total of $750k or something. I don't know the actual numbers, never been close to that.)