News for hackers. Stuff that matters.

A comment on Priced out of home ownership – 'It makes me want to throw up'. Parent comment

Re:Priced out of home ownership – 'It makes me want to throw... by tmnvix on Monday May 27, 2024 @05:25PM (#40494888)
With regard to (1), I would have to agree, though I think this is only the case in the US?

For (2), absolutely. Tax advantages play their part (adding to investment demand relative to other investment options). Is it not also the case that interest payments on a residential mortgage are tax deductible in the US?

[ Parent | on HN ]
Re:Priced out of home ownership – 'It makes me want to throw... by WalterBright on Monday May 27, 2024 @05:48PM (#40495080)
Taxes cause all kinds of distortions and inefficiencies as people adapt their behavior to them.
[ Parent | on HN ]
Re:Priced out of home ownership – 'It makes me want to throw... by lotsoweiners on Monday May 27, 2024 @10:11PM (#40496720)
> Is it not also the case that interest payments on a residential mortgage are tax deductible in the US?

They are only if you itemize your taxes nowadays. During the Trump administration the tax law changed so that the vast majority of Americans now take the Standard Deduction. I received the mortgage interest deduction for about 15 years but haven’t received it for 5-6 years now.

[ Parent | on HN ]