BikeRider, excellent points on the folly of the interest deduction, and the value of having a paid off home.
surveyor, if your properties provide cash, then you are in a good situation. I doubt rents will go down, so if you like owning real estate and the tenant is paying the mortgage, good for you. Another option is to sell that property and put that cash to use in 3-5 years when prices are lower. You may end up with twice as many cash-flow properties.