What tax benefits are there for homeowners in the US?
In the United States, there are several tax benefits available to homeowners. Some of the most common tax benefits for homeowners include:

1. Mortgage interest deduction: Homeowners can deduct the interest paid on their mortgage for their primary residence on their federal income tax return. This deduction is limited to mortgage debt up to $750,000 for mortgages taken out after December 15, 2017.

2. Property tax deduction: Homeowners can also deduct the amount they pay in property taxes on their federal income tax return.

3. Capital gains exclusion: If a homeowner sells their primary residence and meets certain requirements, they can exclude up to $250,000 ($500,000 for married couples filing jointly) of capital gains from the sale from their taxable income.

4. Energy-efficient home improvement tax credits: Homeowners who make energy-efficient upgrades to their homes may be eligible for tax credits.

5. First-time homebuyer tax credit: First-time homebuyers may be eligible for a tax credit of up to $8,000.

It's important to note that these tax benefits can vary based on your individual circumstances and may be subject to change based on legislative action. You should consult a tax professional for more information about which tax benefits you may be eligible for and for guidance on how to claim them.
What are the financial downsides of owning a house in the USA?
Firstly, the economic instability of recent years has left many homeowners vulnerable to the whims of the market. Property values are plummeting, and those who have invested heavily in their homes are left with few options but to watch their wealth evaporate before their very eyes.

To make matters worse, the increasing threat of climate change looms large over the real estate market. As natural disasters become more frequent and severe, the value of homes in affected areas is likely to plummet even further. Homeowners are left with the grim reality of rebuilding and recovery, with little hope of recouping their losses.

And if all that weren't enough, skyrocketing inflation threatens to wipe out the savings and investments of millions of Americans. The cost of living is skyrocketing, leaving many homeowners struggling to make ends meet. Those who are not prepared for the worst may find themselves struggling to stay afloat in turbulent economic waters.