Should the government encourage home ownership?; Putting aside the current mortgage crisis, do you think the government should generally be encouraging home ownership?
Putting aside the current mortgage crisis, do you think the government should generally be encouraging home ownership? Homeowners are able to deduct their mortgage interest from federal taxes. They typically don’t pay any taxes on profits from selling their homes (or if they do, it’s taxed at the lower capital gains rate). Government entities help people get mortgages at very low rates, and there are even special programs to assist first-time home buyers. Personally I don’t see WHY we need all these programs and deductions. Why is home ownership an inherently good thing that should not only be encouraged, but subsidized by the government? Not everyone should own a home. Some people are better off renting. Personally I find it appalling when people talk about “throwing your money away on rent.” It’s often a much better idea than buying a home. What are your thoughts? –> Last edited by Kandahar; 09-26-08 at 12:44 AM. Share Share this post on Digg Del.icio.us Facebook Twitter Reddit Goog
