Housing Growth Will Be Sustainable
The new tax plan approved by President Trump limits the mortgage interest deduction to the first $750,000 of the loan. This menas that 94% of taxpayers will take the standard deduction instead. Therefore, the number of people who choose to benefit from the mortgage interest deduction will decrease, which is why the National Association of Home Builders and the National Association of Realtors oppose the change.
How it affects you: Experts in the domain aren’t the only people with a dark vision on the U.S. housing future. In fact, most American citizens are convinced that the real estate market will crash sometime in the following years. Therefore, the housing prices will rise and the Fed will raise rates.
