- Joined
- Dec 15, 2012
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- 19,765
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- Location
- Lawn Guyland
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- Male
- Political Leaning
- Libertarian
You think home buyers don't? I was in the business for 30 years. The interest deduction is near the top of the home buying decision.
It's also a major player in investment decisions. Take it away from investment property, rents will skyrocket.
Is that because it makes the purchase affordable or because it makes purchase more sensible financially than renting? In the case of my house the mortgage interest deduction makes my mortgage significantly smaller that renting a similar sized house. Actually it puts my mortgage costs on par with renting space in someone else's house. Of course that doesn't factor in taxes and maintenance so TCO is higher but that the price for my being able to make all the noise I want in the middle of the night.