Perhaps the most highly-debated benefit to owning a home is the mortgage interest deduction. Deficit-fighting lawmakers contest that doing away with the deduction could save the country millions each year. Advocates say it's essential to promoting homeownership. Some say it only benefits the rich.
According to a recent survey from HSH.com, 55 percent of homeowners said the mortgage interest deduction was important. Interestingly enough, over 28 percent said they weren't sure if the deduction was an important financial incentive or not.
To learn more about the mortgage interest deduction and its place within the U.S. real estate market, we interviewed Dr. John Diamond, adjunct professor of economics at Rice University.
