What do you think would be the impact of a system that allowed personal tax deductions for people who are paying off an owner-occupier mortgage?
This idea would:
- benefit everyone that is wanting to pay off the mortgage on their first home;
- make the dream of home ownership more possible as the percentage of a persons’ wages that needs to be committed to paying off their mortgage would decrease;
- help families fund their essential expenses (utilies, insurance etc) that seem to be rising more than CPI all the time.
What do you think people?