Aside from the cost and subsidizing of high-income earners' home purchases, the MID has negative impact on housing prices and debt accumulation. Studies done by Porterba and Sinai sowed the MID raised home prices by 3 to 6 percent, increases mortgage debt, and contributes to housing bubbles.
Increase home ownership. Pass FairTaxHR25/S122 eliminating personal and business income taxes, capital gains taxes, estate and payroll taxes. FairTaxHR25 makes Mortgage Interest Deduction unnecessary. Payroll, savings and investments are not taxed thus wealth grows faster and that down payment can be achieved with less debt.