Re:It will become easier to buy a house
by ethbro on Sunday January 06, 2019 @03:32PM
(#18840496)
The decrease in interest premiums (on max 1M -> 750k principle) and state property taxes (10k cap) would seem to be a net negative for people sitting in expensive homes, which seems like it would prod to some sales and downsizing around NYC and SF.
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My point on the tax incentives were that current homeowners are grandfathered into their mortgages (assuming they bought before Dec. 2017).
Regarding state property taxes, I think they are treated as a local tax - so it wouldn't affect NY or SF given that their state income tax is likely to be higher. Your point is true in other geos though.