&lt;Do you think people who own a house should be allowed to buy a 2nd one and push first time buyers out the market?&gt;<p>To say, &quot;you <i>can&#x27;t</i> buy a second house&quot; seems fundamentally contrary to American tradition.<p>On the other hand, whether second homes <i>should be eligible for deductibility of mortgage interest and property taxes</i> is another question altogether (present law = yes).