[FrankR]

I am compelled a little more each day to stop making mortgage payments entirely, and rent for the rest of my days.

Take away my mortgage deduction, and that leaves me to pay the property taxes - which will also probably go up - were is the incentive to even own a house anymore?

[LaineyDee]

were is the incentive to even own a house anymore?

That's their objective. No private property for thee....

[ASOC]

Good point, why own a home?

I am “lucky” we busted butt for years and got ours paid off in 14 years. So, yes, I am a “homeowner”.

But still have to pay the muni about 1/2 of my house payment in taxes (PITI, the P part was $630/month, taxes, $350)

SO, ya, I’m a renter as well.

[whitedog57]

My wife and I did just that.

And they think housing prices are going to stabilize? The banks must be going nuts over this proposal.

In fact, the NAR, NAHB and ABA will probably lobby and kill the bill. They have always lobbied to keep it and won.

[EGPWS]

Take away my mortgage deduction, and that leaves me to pay the property taxes - which will also probably go up - were is the incentive to even own a house anymore?

Of course you will be paying the taxes of the landlord via higher rent if you choose to rent.

One way or another taxes are going to go up for everybody to help pay of these idiotic "clunker" programs that are killing our republic financially.

You just won't own any property.

[org.whodat]

The incentive is you need to keep you and your ass dry and warm, not to mention the family.

[GOPJ]

As soon as most are renting - the gov will put the screws to renters.

[HereInTheHeartland]

” were is the incentive to even own a house anymore? “

There are a lot of incentives.
A tax deduction should never be the reason to be a homeowner or do anything.