Tags: Trump Administration | Trump Tax Reform | tax | plan | americans | homebuying

Tax Plan Has Majority of Americans 'Concerned' About Homebuying

Tax Plan Has Majority of Americans 'Concerned' About Homebuying
(Dollar Photo Club)

Thursday, 21 December 2017 05:54 PM

U.S. taxpayers don’t share Wall Street’s enthusiasm about the tax bill passed yesterday by Congress, at least when it comes to housing.

Of the about 2,300 people polled on behalf of Realtor.com, more than half said they are now either “concerned” or “very concerned” about being a homeowner.

About 23 percent of respondents said the tax bill wouldn’t change their plans to purchase, and about 57 percent said it would have no effect on their plans to sell.

The survey was conducted on Dec. 18 and 19, before the Republican-led Congress passed a tax overhaul measure that limits interest deductions to the first $750,000 in new mortgage debt for married taxpayers filing jointly, down from the current cap of $1 million. It also doubles the standard deduction, making it less likely for homeowners to itemize tax returns and deduct mortgage interest.

Realtor.com is owned by News Corp. and operates under a license from the National Association of Realtors, a trade group that has been outspoken in its opposition to the bill.

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
U.S. taxpayers don't share Wall Street's enthusiasm about the tax bill passed yesterday by Congress, at least when it comes to housing.Of the about 2,300 people polled on behalf of Realtor.com, more than half said they are now either "concerned" or "very concerned" about...
tax, plan, americans, homebuying
171
2017-54-21
Thursday, 21 December 2017 05:54 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved