flexiblefullpage - default
Currently Reading

How Will Your Specific Housing Market Change Under the New Tax Law?​

Advertisement
billboard - default

How Will Your Specific Housing Market Change Under the New Tax Law?​


January 2, 2018
Rocking chair
Photo: Pixabay

Average home prices will drop an estimated 4 percent nationwide as a result of the new tax law. The new caps on the mortgage interest and state and local tax deductions included in the price of homes for sale will make prices seem lower.  

Renters may not feel any impact. Some experts believe the new law will put downward pressure on rent, since tax incentives for developers are still in place and there could be more supply. Meanwhile, homeowners in cities where owning a home will cause one's tax bill ro rise may have some of the cost offset by a drop in individual tax rates and thresholds, Curbed reports. These cuts across all income levels will impact individual brackets differently, and are set to expire in 2025. 

“It’s very hard to come up with how this is helpful to housing,” said Jonathan Miller, President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm “It’s either neutral or negative; there’s no positive, at least that we’re aware of at the moment. All this does is make everything more expensive, at least in high-cost housing markets.”

Read more

Advertisement
leaderboard2 - default

Tags

Related Stories

Design

What Gen-Z Buyers Really Want in a Home

The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?

Building Materials

Lumber Leads Building Materials Prices Higher in March

Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops

Demographics

Post-Pandemic Trends: Working From Home

A greater share of workers are still working from home than before the pandemic and they're concentrated in the information, professional, and financial services sectors

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Sure there are challenges, but overall, Pro Builder's annual Housing Forecast Survey finds home builders are optimistic about the coming year

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.