Not gonna happen anytime soon, at least. But even if they try to start phasing it out in, say, five years or so (presumably after housing has stabilized) you still have the issue of how many folks benefit from it (homeowners with mortgages) versus how many folks don’t (renters and homeowners with no mortgage). I think it’s possible several years down the road, but it’s a tough sell when over half of all households benefit from it on net basis. I don’t see a lot of politicians jumping on this bandwagon, but… what is more likely is a lower cap on the deduction, such that only the folks with the largest mortgages are getting penalized. Democracy being what it is, that could pass.
