Secret #63 – How to Easily Increase Home Ownership for FREE!

Internationally, it’s not unusual for countries to NOT have mortgage interest tax deductions or any other tax relief for mortgage debt. A 2022 OECD working paper found that in 33% of countries studied – including France, Germany, and Italy – mortgage interest payments were not tax deductions for landlord-owned homes. In 48% of the countries studied – including Germany and the United Kingdom – mortgage interest payments were not even tax deductions for the owners who lived in their homes. 

The mortgage interest tax deduction may be the largest tax deduction that U.S. landlords get that U.S. live-in home owners don’t get. Eliminating this one landlord tax break would probably increase home ownership more than eliminating any other single landlord tax break. 

Even if one individual state eliminated the mortgage interest state tax deduction on single-family houses and condos, it would have an impact on increasing home ownership in that one state.

If we removed all the tax breaks that landlords of single-family houses get that live-in owners don’t get, the government could make MORE money from taxes and, at the same time, MORE families would own their own homes, home prices would be MORE stable, and Americans would be MORE stable financially.