Home builders, Realtors oppose House-passed tax reform package

[Yo_Mama_Been_Loggin]

Home builders and the real estate industry remained opposed to a House-passed tax reform package.

The National Association of Home Builders (NAHB) and National Association of Realtors (NAR) expressed continued concerns about the bill they say will hurt homeowners by rendering housing tax deductions ineffective that would likely drive down home values and push up prices.

“[The bill] provides a huge windfall to major corporations paid for in large part by millions of working class homeowners, who will see their housing tax incentives severely diminished,” said
Granger MacDonald, chairman of the NAHB.

“The bill effectively renders mortgage interest and property tax deductions unusable for middle class home buyers and homeowners,” Granger said.

http://thehill.com/policy/finance/360814-home-builders-realtors-oppose-house-passed-tax-reform-package

[dhol82]

1. This would be disastrous to the housing market

Seriously doubt that those provisions will remain in the final bill.
Frankly, I don’t think this bill will ever see the light of day. Too many major problems.