Precisely. If its more expensive to rent the money than rent the house, there is no gain.
Of course, the tax deduction is worth something, inducing people to do things they would not otherwise do. And no capital gains tax on profits. And first time assistance. And whatever else there is running up government deficits.
Its a big ponzi scheme. It blew up once and I guess they know how to profit on the way up and on the way down. Its Mr. and Mrs. Joe Average who get skewered.
Of course, the tax deduction is worth something, inducing people to do things they would not otherwise do. And no capital gains tax on profits. And first time assistance. And whatever else there is running up government deficits.
Its a big ponzi scheme. It blew up once and I guess they know how to profit on the way up and on the way down. Its Mr. and Mrs. Joe Average who get skewered.