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A comment on The global housing market is broken, and it’s dividing entire countries. Parent comment

Re:The global housing market is broken, and it’s dividing en... by lotsofpulp on Monday July 25, 2022 @02:12PM (#32228548)
> In the US there are numerous incentives for buying a home.

The big one being taxpayer funded 30 year fixed rate mortgages, and subsidizing the existence of 0% and 5% downpayment mortgages.

>Your interest on your mortgage is tax free,

Literally 90% of US tax filers do not benefit from this, since it requires itemizing.

>the government offers cash back, etc.

I have not heard of this.

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Re:The global housing market is broken, and it’s dividing en... by frumper on Monday July 25, 2022 @02:39PM (#32228988)
If you rent out the property the interest is a tax deduction as a business expense. The taxes and insurance are also a tax deduction. You can still take the standard deduction at the personal level.

There are a variety of state, local and sometimes federal tax credits or down payment assistance for new home buyers.

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Re:The global housing market is broken, and it’s dividing en... by vecinu on Friday July 29, 2022 @05:28AM (#32274774)
Could you expand on your idea of how taxpayers are subsidizing mortgage rates and downpayments?
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