Reply to SALT Tax Deduction Increase

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Im so tired of homeowners and all their endless tax breaks. Homeowners want it all and become NIMBYs. We need to get rid of the SALT deduction, scale back mortgage interest deductions, and start incentivizing multi family housing and renters.[/quote]

Why would you incentivize renting? [/quote]

You want to encourage movement in the housing market, instead of people sitting on their sub 3% rates complaining how they're golden handcuffed and can't move. If it was more attractive to rent, you also wouldn't have so much local resistance to creating more housing stock. More supply = better prices for all. [/quote]

This doesn’t make sense. There’s no social good in having movement in the housing market. People who own homes are more likely to live somewhere long term and invest in the community. People who are just passing through aren’t interested in improving schools, parks, etc because they won’t be around to enjoy them. [/quote]

What a load of horse sh!t.

Owning a home is not the norm in countries like Germany, Japan, France, etc.  All those renters are clearly not invested in their communities and country, right? [/quote]

They have extremely strong rent control and tenant protections in those countries. They rent because it’s actually affordable for an average worker. [/quote]

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