[kevkrom]

one of the strong arguments (and I mean REALLY strong) for home ownership is the deductibility of your interest and real estate taxes

Of course, under the NRST, not only are interest and real estate taxes paid with pre-tax money, so is the principal payment.

[RobRoy]

>> Of course, under the NRST, not only are interest and real estate taxes paid with pre-tax money, so is the principal payment.<<

Rent would be too. With the removal of the income tax incentive, one of the major reasons people want to own their own home is gone.

Again, I am all in favor of a flat sales tax, as long as it is coupled with the COMPLETE removal of the Federal income tax.

I still think it will never happen.

[Your Nightmare]

one of the strong arguments (and I mean REALLY strong) for home ownership is the deductibility of your interest and real estate taxes

Of course, under the NRST, not only are interest and real estate taxes paid with pre-tax money, so is the principal payment.

This just isn't true. Under the FairTax, you pay a sales tax on the portion of the interest above the Fed rates. And if you bought the home new you would be paying off the sales taxes on that home plus the interest required to finance your sales tax payment (plus the sales tax on that interest).