In many countries, home ownership (meaning owning one's primary residence, instead of living in rented accomodation) is subsidized or otherwise incentivized or supported by the government.
For example (not an exhaustive list, obviously):
- in Germany there used to be a subsidy for buying/building a self-occupied home (Baukindergeld)
- in the USA, there are special tax advantages for home mortgages (Home mortgage interest deduction)
- in France, there is a tax-free loan (Prêt à taux zéro (PTZ)) offered for buying a self-occupied home
- in Singapore, the government-run Housing & Development Board provides grants for buying a family home
Why do these countries provide this special support? I can see a good argument for making sure everyone has adequate housing available, but why provide special support for owning instead of renting? I would have assumed support to be based on the individual housing need, not on the ownership of accomodation.
I am particularly interested in published justification, but other considerations/theories would be interesting as well.