Smooth_Imagination t1_it8ttvs wrote on October 21, 2022 at 7:45 PM

Reply to comment by forebill in Many countries have a "hidden welfare state" for incumbent homeowners, as governments subsidize homeowners through the tax system. The homeownership welfare state is strongest in the US and other Anglophone countries, but weakest in the Scandinavian countries. by smurfyjenkins

Owning your own home vs renting it makes zero difference on the property demand.

Arguing for extra help for renters is great, 100%. But giving similar tax breaks to home owners who sub-let is not going to lower demand for housing and help renters get to own their own home, if it causes more property accumulation by landlords.

forebill t1_it93657 wrote on October 21, 2022 at 8:48 PM

It makes a huge difference in cost. Without the incentive to own instead of rent massive amounts of wealth would be drained from the middle class. That would have massively terrible consequences.