I agree for the average person it's not too significant, but the average person on this site earns well above the average person. As an example, for a programm

I agree for the average person it's not too significant, but the average person on this site earns well above the average person. As an example, for a programmer in a ~37% tax bracket owning a million dollar home in the Silicon Valley, you could be talking about a tax-deduction on the order of $12k annually. With that said, MORL looks like a very interesting product -- and probably a better investment than a house for most people.