The rich don’t need a mortgage to buy a house but why not? They finance 80% anyway. The taxpayers get to subsidize their interest on the loan and the rich get to shelter some income. Makes sense to me. Just taking advantage of one of those stupid ideas congress came up with to help the so called poor to own a home.
Depends on the financial circumstances. Why invest so much of your own money that can work for you elsewhere? And the mortgage interest deduction helps defray income taxes.
The taxpayers get to subsidize their interest on the loan and the rich get to shelter some income.
It is our money, not the government's. I have no problem with taxpayers keeping more of their own money, even the "rich." Almost half of the population pays no income taxes and 80% of wage earners pay more in payroll taxes than they do in income taxes.