Quote:
Originally Posted by strandinthewind
^^^
then mtg interest is tax deductible here, but perhaps not elsewhere. Anyway, food for thought.
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Mortgage interest isn't tax deductible in Canada, I know that much. Plus isn't it true in the US you can get a loan for a house and only pay the interest as your payments - and nothing towards your principle?
I saw something on the news a few months ago about housing sales and how they are falling in the US, along with forclosures and they were talking about interest rates and how people are buying these huge expensive houses they wouldn't normally be able to afford only because the way the banks are working their mortgages with interest payments only or something like that..