|
I have to say, while I like taking the mortgage deduction myself (I got mine, Jack!) I don't think it's really that effective at promoting homeownership like it's supposed to. I mean, who says to themselves, "Weeeeelllll, we're on the fence about buying a house, such a big commitment and all... Wait, what's that? At the end of next year, our total tax bill will be reduced by a relatively small percentage of the interest payments we will be making on this house? Oh shit, sign us up today!"
Besides that, I think promoting homeownership is a wasted initiative to begin with. They have it backwards: homeownership is associated with stable and productive families, yes, but it's an effect, not a cause. You can't just give someone a house and all of a sudden they're a paragon of civic duty and filial responsibility.
|