"Dan Espen" wrote in message
...
Kurt Ullman writes:

In article , Dan Espen
wrote:


I did mention banks. Mortgage deductions serve multiple purposes
but one of them is welfare for banks.

You gotta explain that one to me. How does a deduction I get for taking
out a mortgage work as welfare to the banks?

Makes the mortgage more affordable.
In effect the mortgagee can pay more to the bank than he could
otherwise and the banks asset (the house) is more valuable.

I repeat, "Mortgage deductions serve multiple purposes
but one of them is welfare for banks."

Why do I have to explain such simple things?


That argument may be valid at high mortgage rates
But at around 4% with tighter access, that one doesn't hold much water.