Realtors Predict Tax Bill Will Cause Housing Prices To Drop In Every State
And despite studies that have indicated that the mortgage interest deduction might not be good tax policy, it’s been good for the real estate market. Without it, the NAR anticipates that housing prices will fall by at least 10% across the board. The organization recently released a report breaking out on a state-by-state basis how the proposed tax reform efforts might hurt home values. Their findings? The NAR estimates that home values would fall in every state.