The change to a $24k standard deduction and low Interest rates no longer allows for RE interest deductions. And even if you make enough where you’re above the $24k the deductible ends with a $750k mortgage.
It wouldn’t kill home ownership to do away with it. But would affect it for the rich.
Now the deductions for rentals is another story because that is a business and if you eliminate the deductions for business then you not only
Kill the RE market but any further investment into any business because you would be very hard pressed to ever have it touch just RE