November 3, 2017 0

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.

Read More

Previous California Housing Affordability at 10-Year Low
Next The New Home Company Named Fastest Growing Public Company in Orange County
Tags GOPTax Plan
Category Housing Market

About author

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.

View all posts by this author →

You might also like

Housing Market

Builders Say Union-Backed Wage Bill Could Raise Housing Costs

By Philip Molnar The latest fight between the homebuilding industry and unions is brewing in Sacramento over a bill that could require higher wages to workers on many residential projects.

Housing Market

Orange County Housing Transitioning From Single-family Homes To High-density Condos

Housing Market

Millennial Home Buyers Send a Chill Through Rental Markets

Rising home-ownership is adding to the jitters in the residential rental market.