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Originally posted by Superman
What in the world are you talking about? I know of no one who bought real estate because the gubmint was holding a gun to their head.
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Are you becoming thick? The government is able to
encourage homeownership via tax relief only because they coerce such a huge percentage of our earned money from us that we'll do what they want to keep even a modest portion, even though, for some folks, home ownership isn't what they want or need.
In this case, the government is reducing coercive force, modestly, to get what they want.
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Speaking from a pure and factual economic/sociological perspective, if you eliminate the tax incentive to own a home, the real estate industry is going to take it in the shorts, and there will be less private home ownership.
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Not if the citizen is keeping all or most of his income. Tax relief for home ownership is only meaningful in a high tax environment. If you offered the average person a tax exemption in 1900, they'd simply look at you as if you were addled.
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Home ownership, they say, reduces crime for reasons you maybe are not aware of.
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Please tell me you don't think more people own homes today with tax relief on the interest on home mortgages than did in 1900 when there were no income taxes to be paid at all.
You're thinking tactically, and with no depth of history in your knowledge base. You really must correct that.
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If you are comfortable upsetting these various apple carts, then fine. Just be aware that your "plan" will have some significant fallout.
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I've explained above why your thinking is in error.