US tax bill likely to slow down increase in home prices

Washington

THE steady increase in housing prices in many of the nation's priciest markets, including the Washington region, is expected to slow in coming years, analysts say, as the Republican tax law begins to reshape a major part of the US economy.

For generations, the tax code has subsidised homeownership, particularly for the upper-middle class and beyond. The Republican tax legislation, however, pushed in the opposite direction, scaling back subsidies once thought untouchable.

To pay for other tax cuts benefit…