HousingWire has previously discussed the recent surge in discussions on the mortgage interest tax deduction. Joining the debate, one analyst suggests that instead of getting rid of the mortgage tax deduction, it would be better to simply adjust it. 

Barry Habib, chief market strategist for Residential Finance, said the government should put a cap on the mortgage interest tax deduction.

His alternative mortgage interest tax deduction would give the deduction five years of life. Homebuyers could only reap the benefits for half a decade, unless they purchase a new home.

“Capping the tax break will allow it to do what it is intended to do: stimulate home buying. A cap would continue to motivate individuals to purchase a home without giving them a benefit that lasts well beyond its usefulness to the economy,” said Habib.