Quote:
Originally Posted by Bertuzzied
Isn't that the reason why the US is in such trouble? Is because you can write off your mortgage interest, so everyone took on a mortgage even though they might not have needed one.
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Well, the US is in trouble because people wrote off the interest, then used their giant tax returns to buy vacations, plasma TVs and other non-essentials.
If Canada was like the US in this regard, I'd use the tax break to pay down the mortgage faster. But that would probably put me in the 0.001% of people who actually would do that.