The GOP Tax Plan Has The Real Estate Industry In Panic

Business Insider

By Akin Oyedele

Two powerful trade associations slammed the GOP’s tax plan on Thursday, saying the reduction of a key benefit for homeowners could hurt the market. The plan would cap the mortgage-interest deduction — which allows homeowners to subtract interest payments from their taxable income — on new homes at $500,000. This could dampen the benefit of the deduction outside of the most expensive housing markets and may lower home values.

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Michael Anderson
Michael Anderson 249 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

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