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I don't have data to back this up but in regards to #1, wouldn't most people who are paying mortgage interest be middle class? Wealthy enough to own a house but not to buy it outright? I also believe that if you own multiple homes, you can only deduct this on your primary residence. I've always felt this is a small tax break for middle class.

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Then lower the middle class taxes so people can choose how to keep the savings, instead of being forced to buy a house to take advantage of a specific tax break. (I'm being the devil's advocate here, I realize some taxes (or breaks) exist to incentivize behaviour.

When mortgage interest rates are relatively low like now, I would think even wealthy people would want mortgages. By using a mortgage instead of paying cash, it would be possible to buy more property (a fancier home, a vacation home or rental properties). Or they could invest more in higher-yield investments like stocks.

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