Items Tagged with 'republican tax reform'

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  • Republican tax bill likely curtailed 2018 home sales, Fed economists say

    Housing market should have been able to “shrug off” last year’s rate gains
    Republican tax reform that capped mortgage and property deductions has curtailed the housing market, according to a blog post from economists at the Federal Reserve Bank of New York. While a 7.6% decline in the sales of new single-family homes from 2017’s fourth quarter through the end of 2018’s third quarter could be attributed to a 70 basis point rise in mortgage rates, the drop was larger than periods of similar rate gains in 2013 and 2016.
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