even smart people overestimate the impact of the interest rate deduction. highly educated people i know do not run the numbers. they think of it more as a credit than a deduction sometimes. weird.
people believe what theyw ant to believe. i ahd a dumb relative once who basically was under the impression that he had to buya house because the govt was basically paying for it for him. he’s a moron. but he had good timing.
still doesn’t change the fact that removing the deduction would have a big psyhcological impact ont he market in my opinion. people would ahve less reaosn to belevie what they want to beleive and that would depress sales and prices.
