Concho, that is a great point. People who are self-employed (ie consultants) can deduct part of their rent from their ordinary income. If they own their own homes, they’d have to depreciate and recapture (upon sale) the home office portion (a bookkeeping hassle).
asianautica, putting away for retirment?! Buyers were counting on ever appreciating homes for retirements. On a related note, it’s better for the economy if people work now and consume now, and seniors keep on working and consuming rather than living leisurely lives off of investments/savings.
