I know my brother borrowed for 30 years at about 4.5% fixed and can claim interest, rates and house repairs against his income tax bill for the year.

When I told him that most of the rest of the comparable world could do none of these things, he said "I don't think most Americans would be able to afford to buy any other way".

Add that to the fact that in many states, you can simply hand the keys to the lender if it goes wrong and they have to swallow the losses rather than pursue you for them and they really have an easy time of it there.