Normally mortgage payments are less than rent for the same square footage. So if you drop a thousand a month on an apartment that money is gone; as for mortgage payments your payment for the first ten years or so is mostly interest that you’d get back on your income tax. I guess there’s valid arguments for both sides.
Exactly. Still a good idea. However, there is always talk about eliminating the interest write off.
That is why a flat tax will never be. Because too many people rely on the interest write off. And that is probably mostly psychological since their taxes may be less under a flat tax.