A recent article appeared in the NY Times about the impact of the new tax laws and the real estate market.
Here are my top takeaways and quotes with a link to the article below:
- Despite economists’ predictions for 2018, the recent tax cuts have not caused a major decline in housing prices across America.
- “The median American home sold for nearly 6 percent more in June than it did a year ago”
- On the other hand, the ‘Minutes from the Federal Reserve meeting that ended on Aug. 1 cited the risk of a “significant weakening in the housing sector” in the months to come.’
- ‘A dent on prices “will show up over time,” Mr. Yun said. “But when is that time? Will it take one year? Two years? Three years? That is the question.”’ Mr. Yun is the Chief Economist of the National Association of Realtors