The tax overhaul’s impact on the housing market? It’s complicated.
The tax overhaul’s impact on the housing market? It’s complicated.
A new study by the Federal Reserve Bank of New York points to the 2017 tax overhaul as one reason sales of new homes declined sharply last year. The New York Fed pointed to the cap on the mortgage interest deduction and the State and Local Tax (SALT) deduction as factors in slowing down home sales, especially when it came to sales in higher price brackets. While some independent research concurs with the New York Fed’s findings, there are other factors at play — homes are getting more expensive overall.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
