[I don't think this has been brought up in a thread here, but feel free to link if there is and I'll close this.] I've heard this question come up a couple of times lately. I first heard it on Rush Limbaugh's show last week. I didn't think anything of it as I assumed he found some random blog somewhere advocating it and was creating a debate where there was none. But now, as I write this I am listening to Here And Now on NPR and guest James Kwak is about to debate his belief that "the dream of home ownership has always been a bad idea." I believe they will be questioning the value of the mortgage interest deduction. I just came across the USA Today article entitled Experts: U.S. can no longer afford housing tax breaks. I admit I have a deep-seeded bias in favor of keeping the mortgage interest deduction, but I'm willing to listen to the arguments against it.