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Homeowners enjoy itemized deductions for mortgage interest and property taxes.
Homeowners in many states also enjoy preferential property tax rates lower than the rates on rentals and other property.
And of course homeowners also enjoy the non-tax benefit of a lower real (inflation-adjusted) payment over time, while renters just keep paying more and more as rents go up and up.
Wah wah wah. Landlords can write off their investment properties, maintenance of same, etc. in numerous ways that primary homeowners cannot.
Renters can enjoy the tax break when they actually buy a home.
Yes, landlords get all those numerous writeoffs but rents remain inflated. Heck, 20 years ago I paid more to rent a studio apartment than my next door neighbor Bob paid to own a 3BR house.
Renters can enjoy the tax breaks when they actually buy a home. Well I TRIED to buy a home, remember? And the only obstacle was government. It would help if Americans still had property rights and were allowed to buy real property in increments the can afford.
What do you say to renters who are never able to buy a home, and who therefore never enjoy the tax breaks? "Sorry, thanks for the subsidy!"
Homeowners enjoy itemized deductions for mortgage interest and property taxes.
Homeowners in many states also enjoy preferential property tax rates lower than the rates on rentals and other property.
And of course homeowners also enjoy the non-tax benefit of a lower real (inflation-adjusted) payment over time, while renters just keep paying more and more as rents go up and up.
Lets not forget that renters can pick up and go far more easily than homeowners. They don't need a down payment (just a deposit). Renters don't have to mow the lawn or paint the place they live in.
The tax benefits of home ownership need to fade away (maybe over ten years to not shock the system).
Home owners do not deserve free government handouts for buying a home. Buying a home is a personal decision. Why should someone's personal decision be subsidized by tax payers? Just another bunch of lazy bums looking for free handouts. I thought conservatives were all about free market economics, since when do government subsidies help the market move towards supply and demand equilibrium? Oh wait that's right they don't, they just create nothing more than inefficiency.
Last edited by fibonacci; 04-17-2012 at 06:51 PM..
Who do you think pays property taxes on rental property? It's paid by the tenants, 100%.
It is not much of a hit to the renters due to the density of people in rental properties vs. homeowner. This was the point I was making. Additionally I think it can be agreed that poorer people in general use greater municipal services when it comes to LE/Fire protection, etc... . Poorer people are more likely to rent than to own a home. Thus, you have those using the greatest proportion of municipal services paying the least towards same services.
Lets not forget that renters can pick up and go far more easily than homeowners. They don't need a down payment (just a deposit). Renters don't have to mow the lawn or paint the place they live in.
The tax benefits of home ownership need to fade away (maybe over ten years to not shock the system).
Don't have to mow the lawn? I had to mow the lawn and shovel the snow. What did you expect my landlord was going to drive out and mow the lawn for me?
It is not much of a hit to the renters due to the density of people in rental properties vs. homeowner. This was the point I was making. Additionally I think it can be agreed that poorer people in general use greater municipal services when it comes to LE/Fire protection, etc... . Poorer people are more likely to rent than to own a home. Thus, you have those using the greatest proportion of municipal services paying the least towards same services.
It's a bigger hit to renters who live in houses which don't have the density of apartments.
Also, the vast majority of fire/LE/medical costs are generated by a tiny fraction of people. I chafe at the thought people lump me in with THEM because I rent. (grrr)
Sure cut it but not before they cut welfare, Section 8 food stamps.
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