re: Mortgage interest deduction what am I missing

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I would link you to the thread where I countered people citing the deduction as a reason to buy over renting, but I'm on my phone and it's simply not worth the effort

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Renting is absolutely the way for younger folks, single folks and those with no children. The tax benefits do not accrue until you have developed a sophisticated and robust package of deductions you can bundle with HMID - now the mortgage can be the foundation for folks who are self employed to get the tax benefits of other things - in particular if you own a lot of investment real estate, generally, it can make sense.

But purely from a housing standpoint, a lot of folks are buying and not getting this deduction.