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
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 million for couples filing jointly - weakening the incentive in high-cost markets where property deals often require large mortgages.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb forecasts weaker Q2 revenue despite robust demand for international travel
US 30-year mortgage rate falls for first time since March
Government probes ‘misleading’ and ‘unrealistic’ resale listings for S$2 million HDB flats
German commercial property prices drop 9.6% in Q1
Swedish home prices swell with buyers expecting rate cuts
Blackstone, Starwood split on commercial property market risks