Thanks for another pointless post.
You really are unable to accept that there is only one statement between to two of us that is rock solid.
RENTERS CANNOT DEDUCT BUILDING MORTGATE INTEREST RATES.
All your suggestions about how renters benefit from them anyway are hollow.
Renters shouldn’t be able to deduct them. Building owners owe them nothing. They can spend their money any way they like. It has nothing to do with profit margins. It has to do with what the market will bear.
If rents in an area are $2000 a unit, and the building owner can make $1500 a month profit off each unit, they should. They are not obligated to give renters are discount based on mortgage interest rate deductions.
I’ve not made the case owners owe them anything, or that owners will definitely lower rents based on mortgage interest rate deductions. That would be silly.
Renters rent property based on what the market will bear, not what their deductions were.
I think the problem here is that you have never taken a course in economics.
If the mortgage interest deduction is eliminated, there will be more renters chasing the same stock of rental housing. rents will naturally rise.
Now I have not read the tax proposal, but under current law, and under Generally Accepted Accounting Principles, mortgage interest on a rental is is a business expense. There is not even a whisper that the tax proposal will change GAAP.
The business expense is deducted from gross business income as part of a taxable income calculation. You can not eliminate the "home mortgage interest deduction" for a rental property because there never was one to start with.
So eliminating the home mortgage interest deduction will penalize both homeowners and renters, and will be a windfall for landlords. Homeowners in the form of higher taxes, and renters in the form of higher rents. Now I happen to be a landlord, and will profit from any such elimination. I am opposed to it on policy grounds. We want to encourage home ownership to give as many people as possible a stake in the prosperity of the USA.
Same straw man argument you've been making all along. Nobody claimed that renters were deducting anything. You made that one up just to have an argument to make, but nobody is arguing that with you.
AS A LANDLORD, if I were not able to deduct the interest on the mortgage on the building, the rent I charged would have to be more. This is a fact from personal experience, not just supposition. To use your terminology, that is the only rock solid statement that has been made between us.
You have made exactly zero valid points in this discussion because you are desperately clinging to an argument nobody is disputing or cares about. If that is how you approach every discussion in your life - good luck with that.