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Republican tax bill makes homes more unaffordable

Halving the set-off for mortgage interest adds to burden in areas where prices are high due to shortage

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In expensive markets such as the San Francisco Bay Area, capping mortgage deductions would diminish an incentive used by buyers to offset costs.

New York

PRICEY US housing markets, from New York suburbs to California's coastal cities, could take a direct hit under the tax-reform bill released by House Republicans.

Under the bill, mortgage interest would be deductible on loans up to US$500,000 instead of the current US$1

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