NYT didn't pull any punches: How Homeownership Became the Engine of American Inequality

[frankieallen]

18. families making six figures are far far from the "wealthiest Americans", two completely different

things. I have not problem with capping the deduction, none at all, but I would not want to see it go away.
What proof is there that by eliminating the MID, home prices would suddenly drop and become within the reach of the working lower class in urban areas??
I call bullshit on that "theory"
Just like when we have a sales tax holiday in Mass, and prices suddenly rise by %6 for that weekend. ( I tried to buy a new couch last time we had a tax holiday, the "always available" %10 discount became %5 for the weekend)
We are talking about a tax deduction here to make mortgages more affordable to working families, the fact that rents are going up, and there is no assistance available for low income to pay these rents is not the fault of MID. You could as easily blame the government for building another air craft carrier we don't need, or providing taxpayer provided
cadillac health insurance FOR LIFE to elected officials while the rest of us pound sand.

Cap it, by all means, but do not eliminate it.