A few comments: Housing and Policy

A few brief comments on tax policy changes ... There are a several policy changes that might impact housing: the reduction in the Mortgage Interest Deduction (MID), double taxation on certain income (elimination of State and Local income tax deduction), a $10,000 limit on property tax deduction and SALT, and corporate tax cuts (and other tax cuts that mostly benefit high income earners and the wealthy). First, I think the impact of reducing the MID from a maximum of $1 million in mortgage debt to $750 thousand in mortgage debt will have very little impact on the housing market. Overall I......(read more)

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