[jelliclesfarm]

That’s speculative activity. Loans have to be repaid and have interest. It’s not free money.

Home ownership doesn’t always imply assured appreciation of property. Even those with second homes have to pay property taxes and rental income is also taxable.

Many people do NOT take more loans to buy a new home. Home ownership does give a sense of security that the down payment guarantees...it’s 30 years of mortgages and interest. And even the down payment is a result of hard earned or saved $$. People assume that property is a privilege. It’s debt. It’s a higher risk but highly rewarding risk.

[twblalock]

> It’s a higher risk but highly rewarding risk.

Sounds like a benefit to me. Debt is a tool that can bring huge benefits to people who know how to use it.

Most people who own homes have used debt to buy them. Almost everyone who owns more than one home has borrowed against equity in homes they already own to buy the others. The ability to do that is a clear benefit of property ownership.

[jelliclesfarm]

And a lot of them don’t. Debt is not a strategic play for most householders. Maybe when one is young, but most people seek stability when they have kids and as they get older.

You are generalizing. I know more people who are only single home owners. Perhaps you know wealthier or younger people than I do.

Also: you can’t penalize people for the benefit to get into more debt with more taxes. Then it no longer is a benefit.