In other words to pick that the home seller is the winner and the home buyer is the loser?
Getting a deduction on a second home is ridiculous. Since shelter is a basic need I can see it justified for one home. Because if a person loses their home, it could end up being a liability to the government safety net anyway, if they have to offer public housing. But a second home is not a common need and not justifiable as a tax deduction. The government is not going to have to step in and provide a safety net for someone who loses their SECOND home.
And no I'm not pro-tax. I'm pro-lower taxes with less deductions so everyone gets to benefit and not just people who behave in the way the government mandates, dictates or subsidizes.
This is why we will spend ourselves into oblivion, even here on FR people are not willing to do away with vacation home welfare. Lower the rates and eliminate all market distorting deductions.