This study, by several highly regarded housing finance academics, draws on a number of empirical studies that have been conducted for the United States and other, mainly European, countries. According to their research, the empirical evidence suggests that, contrary to popular wisdom, the mortgage interest deduction (MID) does not increase the ownership rate. This result, they say, is likely due to the fact that the MID is capitalized into house prices, especially where housing supply is inelastic.