5 Beefs With the Home Mortgage Interest Deduction

Harvard professor suggests an overhaul of the longtime "sacred cow."

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Harvard professor Edward Glaeser is calling for a makeover of the home mortgage interest deduction. "Ending the madness of encouraging Americans to bet everything on housing, we can hopefully reduce the odds of a tragic repeat of the current boom-bust cycle," he writes in a New York Times blog post. See the full post for his five major beefs with the deduction as well as his "utterly quixotic" proposal for improving it.